2024-09-13 02:22:42
New Delhi: Shares of green energy solution provider Suzlon Energy Limited rose for the second consecutive day today. It touched a five percent upper circuit during trading and reached Rs 81.95. It has risen by more than 10 percent in two days. In the last one year, it has given multibagger returns to its investors. During this period, its price has increased by 112.97 percent. With this rise, the market cap of the company has reached Rs 1,11,780.33 crore. Experts say that this stock can go up further in the coming days. The reason for this is that the government is emphasizing on green energy. Suzlon’s stock can go up to Rs 100 in the near term. Experts say that Suzlon’s stock has been in the news for the last six to eight months. If it crosses the level of Rs 82, then its chances of going up will increase. Its 52-week high is Rs 84.40. The company’s stock reached this level on August 13. After the recent rally, profit booking was seen in it. As per the data of June 2024, the promoters hold 13.27 per cent stake in this company, which was 13.29 per cent in the previous quarter.
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Headquarters sold
Suzlon Energy recently sold its headquarters in Pune. The company has done a property sale and leaseback transaction for its headquarters One Earth. Suzlon sold it to OE Business Park Private Limited for Rs 440 crore. It is a special purpose vehicle. Suzlon is selling its non-core assets and the sale of the headquarters is also a part of that plan. This is the first time in the country that a company has sold its headquarters. Due to this, the company’s shares rose sharply in early trade and it jumped 2.7 percent to Rs 76.49.