Suzlon shares surge after Rs 179 crore block deal

Suzlon shares hit the upper circuit in the morning trade on June 20 after a significant block deal where shares worth Rs 179 crore changed hands.

Approximately 0.3 percent of the company’s equity, translating to 3.7 crore shares, were exchanged according to data from the exchanges. The identities of the buyers and sellers in the transaction are not yet known.

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As of 1:13 pm, Suzlon shares were trading 2.23% higher at ₹49.99 on the NSE.

International brokerage Morgan Stanley has rated Suzlon Energy as ‘overweight.’ The brokerage views Suzlon as a significant beneficiary of India’s shift towards renewable energy, positioning the company well to capitalize on the transition to greener and cleaner energy sources.