Suzlon‘s share price continued to make gains for the third straight session on Friday going up 2.50% to hit an over 14-year high of ₹75.30.

What Happened: The surge has helped the wind energy major cross the ₹1 lakh crore mark. Shares of the company have been on a strong rally in the past few weeks. In the last 30 days, the stock has gone up over 30%.

See Also: IRCON Shares Slips As Revenue Declines, Orderbook Shrinks In Q1

The Suzlon share price has been upbeat ever since the company posted its results for the quarter ended June last month. The wind energy major reported a net profit of ₹302.29 crore for the quarter, marking an increase of over 200% year-on-year. The company’s revenue from operations went up 49% YoY compared to the ₹1,347 crore.

The latest boost to the company’s shares was the major acquisition the company announced on August 6. On Tuesday, the Pune-based company confirmed that it has signed definitive agreements to acquire a 76% stake in Renom Energy Services. The acquisition will be carried out in two stages, with an immediate purchase of 51% for ₹400 crore, and an additional 25% within 18 months for ₹260 crore.

Price Action: Suzlon’s share price was up 2.07% to trade at ₹74.43 in the early hours of trading on Friday. The market capitalisation is at around ₹1.02 lakh crore.

Read Next: Trent, BEL To Enter Nifty 50 In Sept Rejig, May See Inflows Of ₹7,887 Cr, Says Nuvama

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.