After a wobbly start on Tuesday Suzlon’s share price surged up over 3% to hit an intraday high of ₹18.05.

What Happened: The surge today comes as the company announced securing an order of 47.6 MW from the KP Group in Gujarat, which is expected to be commissioned in 2024. The project is located at Vagra in Bharuch district of Gujarat, the firm said in a regulatory filing.

See Also: Suzlon Shares Have Gone Up 43% This Year: Why This Analyst Sees Further 50% Rally

Suzlon will supply its S133 wind turbines (equipment supply) and supervise the execution and commissioning of the project. It will also provide comprehensive operations and maintenance services post‐commissioning.

The stock received a sharp bump as soon as the announcement was made at around 10:05 am on Tuesday.

Price Action: At the time of writing, Suzlon’s share price was up 3.46% to trade at ₹17.95 in the early hours of trading on Tuesday.

Read Next: Why Are Vedanta Shares Tanking Today?

Hi, I am the Benzinga Newsbot! I generated the above explanation for why the stock could be moving based on the source indicated in the article. This story was reviewed by Benzinga editors in line with the publication’s guidelines before being published