Why Suzlon Shares Surged To New 52-Week High Today

Suzlon‘s share price jumped up over 6% on Tuesday to hit a new 52-week high of ₹12.15.

What Happened: Shares of the renewable energy player have picked up steam in the past few weeks. Suzlon’s share price has climbed over 38% in the past month. Just this week, shares of the company have gained over 8%.

The surge this week comes as the company on Monday – World Environment Day – announced becoming the first Indian wind energy company to reach 20 GW of worldwide wind energy installations. Suzlon's 20-gigawatt wind energy installations are through 12,647 wind turbines across 17 countries.

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The Pune-headquartered company said that its energy installations generate enough green electricity required to power more than 1.3 crore Indian households.

The company reported a profit of ₹320 crore in the March quarter against a loss of ₹205 crore in the same quarter last year. However, the company's revenue from operations went down 31.54% year-over-year to ₹1,694.1 crore.

Price Action: Suzlon’s share price was up 4.82% to trade at ₹11.95 in the early hours of trading on Tuesday.

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