Suzlon Energy, Inox Wind bounce back to touch upper circuits

Suzlon Energy and Inox Wind bounced back to touch upper circuits on BSE on Thursday (March 7, 2024) after falling for five and eight days, respectively. The stocks of the renewable energy companies had been faring poorly on bourses, mainly after reports that the Ministry of New and Renewable Energy (MNRE) was contemplating bringing back "reverse auctions" for auctioning wind power capacity to energy companies.

Suzlon Energy also bounced back to touch an upper circuit of five per cent after it received a new 72.45 MW order for the 3 MW series from Juniper Green Energy Private Limited. 

The stocks of both companies slid heavily in the recent past. While Suzlon Energy slipped by 14.6 per cent in five days, Inox Wind slumped by 17.1 per cent in five days and 20.8 per cent in eight days.

Suzlon Energy touches upper circuit

Suzlon Energy touched an upper circuit of five per cent at Rs 40.45 on Thursday.

It was a significant change from the stock's performance in the last five days, of which, it hit the lower circuit on March 4, 5, and 6.

The stock of the company was trading higher by 4.98 per cent, or Rs 1.92, at Rs 40.45 at 2:07 pm on Thursday.

The stock closed at Rs 38.53 and started the session on Thursday at Rs 37.25 to jump to the day's high of Rs 40.45, a 4.98 per cent rise from the previous close. 

Suzlon Energy's new order

Inox Wind touches upper circuit

Inox Wind recovered from a fall of eight days to touch an upper circuit of five per cent on Thursday.

The stock was trading up by 5 per cent, or Rs 24.95, at Rs 524.40.  

The stock ended the trading session on Wednesday at Rs 499.45.

It started Thursday's session at Rs 477.00 and jumped to Rs 524.40. 

Prior to recovery on Thursday, the stock had hit the lower circuit on March 4, 5, and 6. 

Inox Wind slid by 17.1 per cent in the five days, while its fall in the eight days is eight per cent.