NEW DELHI: Shares of Suzlon Energy were stuck in the upper circuit of 5% for third consecutive session on Wednesday. At Rs 25.85 apiece on the NSE, the stock has gained 36% in a month and 206% in 6 months as fresh orders amid government push for wind energy and reduction in net debt has made the renewable energy firm a top pick among investors.
The share rises even as the company recently announced downsising a project in Gujarat. Reliance Industries (RIL’s) entry into wind energy business didn’t pose a threat to the rally. Analysts at JM Financial said Suzlon, with leading market share (33%), higher depth of manufacturing (4.5GW), most credible operations & maintenance services (35%+ EBITDA) and technology superiority (3MW sets under testing) is best placed to grow its order book (1.5GW/2GW as of Jun’23/Mar’26).