Suzlon Energy shares gain 3% on bagging 1st wind order from ArcelorMittal

Suzlon Energy Share Price Today: Shares of wind solutions provider Suzlon Energy were in strong demand on the bourses on Wednesday, January 28, after the company announced that it had secured a 248.85 MW wind energy order from ArcelorMittal Group through its renewable energy entity in India. Following the announcement, Suzlon Energy share price rose 3.47 per cent to an intraday high of ₹47.38 on the NSE.

 

Though the counter pared some gains later, it continued to attract solid buying interest. At 09:54 AM, shares were trading at ₹46.98, up 2.60 per cent from the previous close of ₹45.79. The benchmark NSE Nifty50, meanwhile, was trading at 25,289, higher by 114 points, or 0.45 per cent.

 

A combined total of 19 million equity shares of Suzlon Energy, estimated to be worth ₹89 crore, changed hands on the BSE and NSE during the day’s trading. The company’s market capitalisation stood at ₹64,381.77 crore.

 

Suzlon Energy shares have a 52-week range of ₹44.88-74.30 on the NSE.  ALSO READ | Q3 Results Today

Wind Order Part of 550 MW Hybrid Project in Gujarat

The northward movement in Suzlon’s stock followed the announcement that the company had secured the 248.85 MW wind energy order from ArcelorMittal. This order forms part of a 550 MW hybrid project in Gujarat, with the wind order awarded to Suzlon for captive use at ArcelorMittal Nippon Steel facilities in India.

 

According to the exchange filing submitted by the company, Suzlon remains the largest wind energy player in Gujarat, with an installed capacity of 4.5 GW and growing. This marks Suzlon’s fourth major wind order aimed at decarbonising steel production, taking its contribution to around 1,156 MW of green steel capacity in India.

 

Commenting on the development, Girish Tanti, vice chairman, Suzlon Group, said, “We are proud to partner with ArcelorMittal, one of the world’s most respected steel producers. Steel is the backbone of India’s infrastructure, yet it remains one of the most energy-intensive industries. As the sector accelerates its journey toward decarbonisation, renewable energy has become a competitive and viable contributor. At Suzlon, we are committed to making this transition a reality through strong partnerships and industry coalitions like the Indian Steel Green Council.”