Suzlon Energy shares surge 5% after 381 MW order win from Zelestra
ADVERTISEMENT The project spans three Indian states — Maharashtra, Madhya Pradesh, and Tamil Nadu — and will involve the installation of 127 units of Suzlon's advanced S144 wind turbines, each rated at 3 MW.
According to a regulatory filing by Suzlon, 180 MW each will be set up in Maharashtra and Madhya Pradesh, contributing to state-run SJVN's FDRE bids, while the 21 MW project in Tamil Nadu will cater to Commercial & Industrial (C&I) consumers seeking reliable, clean energy.
This is Zelestra's first FDRE project in India and marks a strategic collaboration between Suzlon and a globally recognised clean energy player.
Backed by EQT, a leading global investment firm with over €273 billion in assets under management, Zelestra brings global experience in decarbonisation and renewable energy deployment. It currently manages a renewable energy portfolio of around 29 GW across 13 countries, with 5.4 GW already contracted or operational.
Suzlon's 14-day Relative Strength Index (RSI) is at 38.0, indicating that the stock is neither overbought nor oversold. While it's still above the oversold threshold of 30, it remains closer to that end, suggesting potential for upward movement if buying interest picks up.
ADVERTISEMENT Also read: PNB Housing Finance shares tank 16% after resignation of MD & CEO, Girish Kousgi
On the moving averages front, Suzlon is trading above 5 out of 8 key Simple Moving Averages (SMAs) — specifically the 5-day, 10-day, 100-day, 150-day, and 200-day SMAs — signalling a bullish long-term trend. However, it is below the 20-day, 30-day, and 50-day SMAs, indicating some short- to mid-term consolidation or weakness. Overall, the technicals reflect underlying strength with room for a possible near-term recovery.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
(You can now subscribe to our ETMarkets WhatsApp channel)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
12 minutes ago
- Economic Times
Ladli Behna Yojana beneficiaries to get Rs 250 on Aug 7 as 'Raksha Bandhan' gift: MP CM Mohan Yadav
Madhya Pradesh Chief Minister Mohan Yadav on Sunday said 1.27 crore beneficiaries of the Ladli Behna Yojana will get Rs 250 in their bank accounts on August 7 as a Raksha Bandhan gift, which he described as a "small token of love from a brother".This amount is over and above the Rs 1250 beneficiaries of the state's flagship scheme get every month, he added while addressing a Raksha Bandhan celebration organised by women working at 'Best Lifestyle' company here. "Every woman of the state is my sister. It is my pride and my honour. The Madhya Pradesh government is fully committed to ensuring that no sister faces hardship," Yadav asserted.'Best Lifestyle' currently employed 1500 women, and this number would soon go up to 4000, he said, adding that a new site had been allotted to the company, which will also have residential facilities for Syntex, another prominent firm in the region, employs 7000 women, all of whom are skilled workers producing high-quality garments that are exported to the United States of America, the CM said. Informing that the firm had exported 11 lakh units and aims to reach 20 lakh units soon, Yadav said, "I bow to the hardworking sisters who are the backbone of this progress. For me, my sisters are everything." Employment in textile mills in Ujjain have gone up from 5000 earlier to 20000 now, and the figure continues to grow, he pointed out."Industries are coming to Ujjain. Investors are showing interest in Madhya Pradesh. This is creating jobs, which is a matter of pride for our state, both nationally and internationally," he MP government is providing Rs 5,000 to the women working in the company, under various state-run schemes, and more welfare initiatives are in the pipeline, Yadav Ladli Behna Yojana was launched on June 10, 2023 from Jabalpur by the previous Shivraj Singh Chouhan government. It is seen as one of the primary reasons for the BJP's emphatic win in the 2023 assembly polls. According to offficials, of the Rs 27,147 crore special budget earmarked for women, a sum of Rs 18,699 crore is for the Ladli Behna Yojana.
Mint
12 minutes ago
- Mint
Dividend Stocks: Britannia, Coal India, Hyundai Motor, among others to trade ex-dividend next week; Full list
Dividend Stocks: Shares of major companies, including Britannia Industries, Coal India, Hyundai Motor Co., Berger Paints, IOCL, Mankind Pharma, and Kirloskar Industries, are among others that will trade ex-dividend in the week starting Monday, 4 August 2025. The ex-dividend date is when the equity share price adjusts itself to reflect the next dividend payout. This day, the stock becomes ex-dividend, which means the shares do not carry the value of its next dividend payment from that day forward. The dividend issue will be payable to all the shareholders whose names appear on the company's list by the end of the record date. As per the BSE data, many companies also announced other corporate actions, including a bonus issue. Britannia Industries Ltd, Coromandel Agro Products & Oils Ltd, Deepak Nitrite Ltd, Emkay Global Financial Services Ltd (Special dividend + Final dividend), Fairchem Organics Ltd, Gail (India) Ltd, Gandhi Special Tubes Ltd, Greenply Industries Ltd, KCP Ltd, KELTECH Energies Ltd, Praj Industries Ltd, and Westlife Foodworld Ltd. Aayush Wellness Ltd, Alembic Ltd, Automotive Axles Ltd, Indef Manufacturing Ltd, Benares Hotels Ltd, Berger Paints India Ltd, Century Enka Ltd, Chambal Fertilisers & Chemicals Ltd, DCM Shriram Ltd, Hyundai Motor India Ltd, Indag Rubber Ltd, Ipca Laboratories Ltd, Jay Shree Tea & Industries Ltd, Ltd,Prima Plastics Ltd,Share India Securities Ltd,Shreyans Industries Ltd, Shreyans Industries Ltd,Tips Music Ltd, andVA Tech Wabag Ltd. Adf Foods Ltd, The Anup Engineering Ltd, AVT Natural Products Ltd, Blue Dart Express Ltd, Bombay Dyeing & Manufacturing Company Ltd, Coal India Ltd, DMR Hydroengineering & Infrastructures Ltd, East India Drums and Barrels Manufacturing Ltd, Fermenta Biotech Ltd, Great Eastern Shipping Company Ltd, Grauer & Weil India Ltd, Hester Biosciences Ltd, Kirloskar Industries Ltd, Kriti Nutrients Ltd, Dr. Lal PathLabs Ltd, Mercury Laboratories Ltd, Rajratan Global Wire Ltd, The Ramco Cements Ltd, and Ramco Industries Ltd. Avanti Feeds Ltd, Bayer CropScience Ltd, CCL Products (India) Ltd, Chembond Chemicals Ltd, Dhunseri Investments Ltd, Disa India Ltd, Esab India Ltd, La Opala RG Ltd, Linde India Ltd, Lumax Industries Ltd, Lumax Auto Technologies Ltd, Mysore Petro Chemicals Ltd, Nava Ltd, PI Industries Ltd, Sharda Cropchem Ltd, and Symphony Ltd. Alkem Laboratories Ltd, Alldigi Tech Ltd, Computer Age Management Services Ltd (CAMS), Ceat Ltd, Flair Writing Industries Ltd, Gujarat Containers Ltd, Gujarat Hotels Ltd, Hindalco Industries Ltd, Indian Oil Corporation Ltd (IOCL), Jtekt India Ltd, Kronox Lab Sciences Ltd, Mankind Pharma Ltd, Ltd, Multi Commodity Exchange of India Ltd (MCX), Oriental Aromatics Ltd, Paras Defence and Space Technologies Ltd, Premco Global Ltd, Quess Corp Ltd, Shilchar Technologies Ltd, Shradha AI Technologies Ltd, Sonata Software Ltd, Steelcast Ltd, Varroc Engineering Ltd, Vishnu Chemicals Ltd, Voith Paper Fabrics India Ltd, Wonderla Holidays Ltd, and ZF Commercial Vehicle Control Systems India Ltd. Murae Organisor Ltd: declared a bonus issue of shares at a ratio of 1:10. Shares will trade ex-bonus on Thursday, 7 August 2025. Nestle India Ltd: declared a bonus issue of shares at a ratio of 1:1. Shares will trade ex-bonus on Friday, 8 August 2025. A bonus issue is a corporate action that allows existing shareholders to subscribe for additional shares. Instead of increasing the dividend payout, companies offer to distribute additional shares to the shareholders. For example, the company may give out one bonus share for every ten shares held. Cube Highways Trust: Income Distribution (InvIT) on Monday, 4 August 2025. Indus Infra Trust: Income Distribution (InvIT) on Monday, 4 August 2025. Nexus Select Trust: Income Distribution RITES on Monday, 4 August 2025. Embassy Office Parks REIT: Income Distribution RITES on Tuesday, 5 August 2025. Brookfield India Real Estate Trust REIT: Income Distribution RITES on Wednesday, 6 August 2025. Davangere Sugar Company Ltd: Rights Issue on Wednesday, 6 August 2025. Mindspace Business Parks REIT: Income Distribution RITES on Thursday, 7 August 2025. Anzen India Energy Yield Plus Trust: Income Distribution RITES on Friday, 8 August 2025. POWERGRID Infrastructure Investment Trust: Income Distribution (InvIT) on Friday, 8 August 2025. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
12 minutes ago
- Economic Times
Piaggio expects L5 electric 3-wheeler penetration to reach 50pc by mid-2028
Small commercial vehicle maker Piaggio Vehicles is expecting L5 electric three-wheeler segment penetration in the domestic market reaching 50 per cent at the most by mid-2028, owing to a structural shift and other factors, a top company official has said. The company, which last month rolled out two new electric passenger three-wheelers -- the all-new Ape E-City Ultra and upgraded Ape FX Maxx- also said there is a need for the government to provide clarity on the issue of continuation of the incentives. Piaggio Commercial Vehicles Pvt Ltd (PVPL) is the Indian subsidiary of Italian auto major Piaggio Group. "There is a spike in the penetration of L5 category electric three wheelers in the country in the last one-and-a-half years. And this is when the government incentives under the FAME program have reduced to one-fourth in the same period," Diego Graffy, Chairman and Managing Director of PVPL, told PTI in an interaction. He said that if the level of penetration continues at this pace, "we expect this to reach 50 per cent by the end of 2027 or the beginning of mid-2028 even if the incentives are withdrawn, as there is a structural shift taking place in the market." There are two categories-- L5 and L3-- in the electric three-wheeler segment. L5 Category refers to three-wheeler auto-rickshaws for carrying passengers or cargo while e-carts fall in L3 category. Both the Central Government and state governments are promoting the faster adoption of EVs through various fiscal incentives to the EV buyers. The second phase of the government's flagship scheme, Faster Adoption and Manufacturing of Electric Vehicles (FAME), launched in 2019 with an initial outlay of Rs 10,000 crore, later increased to Rs 11,500 crore, ended in March last year. Subsequently, a new PM E-Drive Scheme with an outlay of Rs 10,900 crore for two years to boost EV sales, replacing FAME programme was announced in September 2024. "The Government reducing the subsidy to one-fourth in the last one-and-a-half years could have definitely been a big disruption (in terms of demand) but instead of depressing the market, it has only kept on increasing. It means that the change or the shift that is happening now is structural and not anymore incidental. And this shift is happening for multiple reasons," Graffy said. Apart from the structural shift, the factors for the higher penetration include improved charging infra, lower cost of acquisition and ease of financing and servicing. "These challenges have largely been addressed in this period leading to increased penetration, particularly of the passenger segment," he said. According to industry statistics, L5 passenger electric three-wheeler penetration accounted for 22.8 per cent in the total EV sales in FY 25 while the goods e-three-wheeler penetartion stood at 21.5 per cent in the same period. Also, in the April-June quarter of this fiscal, as much as 32.4 per cent of the total ev penetration was recorded in the passenger e-three wheeler segment and 22.8 per cent in the cargo e-three-wheeler segment. Graffy said that the adoption rate across Southern and Western parts of the country however, is still much lower, adding that, it is expected to increase in the next couple of years and when it happens, the overall penetration rate would go much higher than 50 per cent." He said that the e-commerce transition was leading to the demand for cargo e-three-wheelers, which is on the wane now while the passenger segment is picking up very rapidly due to the reason cited earlier. Due to a structural transition that we see, now the passenger segment will have a much higher rate of adoption in the next few months, he stated. He said that Piaggio Vehicles is "maintaining" more or less the pace at which the industry is growing, adding that the company keeps on renewing its product portfolio every two years since 2019 when it first introduced its e-three-wheeler in the country. "We are not doing (renewing products) so frequently unlike many other players are doing in the space. We prefer to take our time. So, we are reviving our products every two years trying to introduce new features with innovation and technology," he said. "We believe EVs are an opportunity to reshape urban transport and improve livelihoods. New ApA© E-City Ultra and ApA© E-City FX Maxx are being built with these realities in mind. They deliver what the Indian customer needs: best in class range, low battery degradation, strong performance, and minimal operating costs," Graffy said on the launch of the two models, which are priced at Rs 3.80-lakh and Rs 3.30 lakh, respectively. "These vehicles are enablers of economic mobility, future-ready solutions that can scale across cities and small towns alike. Our focus is not only on innovation but also on contributing to a more inclusive and sustainable future," he said. On the incentives, he said," uncertainty on (the continuation) of the incentives is definitely very disturbing and some clarity going forward is required." "Even if the government wants the incentives to discontinue from a particular date, declare it clearly so that every OEM can plan the strategy accordingly," Graffy said.
