Suzlon‘s share price was upbeat on Tuesday morning going up nearly 3.5% to hit an intraday high of ₹76.91.

What Happened: Morgan Stanley has reaffirmed its “overweight” rating on Suzlon with a target price of ₹73. This decision comes in the wake of Suzlon securing a significant order from NTPC.

The brokerage noted that Suzlon, previously ineligible to bid due to its negative net worth, has secured a public sector order after a considerable time. As per the analysts’ analysis, this major contract is projected to boost the company’s earnings visibility for F26-27.

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The company announced bagging the order from NTPC on Monday. Suzlon is set to install 370 wind turbine generators at three projects in Gujarat.

Before this, Suzlon had completed the acquisition of a 51% stake in Renom Energy Services. This acquisition is part of Suzlon’s strategic moves to strengthen its position in the renewable energy sector.

Earlier, ICICI Securities also maintained its “add” rating for the stock with a price target of ₹80.

Price Action: Suzlon’s share price was up 3.46% to trade at ₹76.91 as the markets opened on Tuesday.

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