Suzlon Energy shares gain over 3% in response to three major triggers

Shares of Suzlon Energy Ltd. gained as much as 3% courtesy of three major triggers on which the stock can see a reaction.

The first trigger is that starting Friday, August 1, the stocks will start trading in the futures and options (F&O) segment.

Second being the fact that the government has increased the domestic content requirement for wind turbines. The government has mandated that blades, towers, gearboxes, generators and bearings have to now be sourced from Approved List of Models & Manufacturers (ALMM).

Additionally, R&D, data centers and servers must also be located in India to boost the cybersecurity. The development is not only positive for Suzlon, but also for its peer Inox Wind.

Lastly, the company just informed the exchanges that it has won a 381 MW order from Zelestra India and its affiliates, for its first ever Firm and Dispatch Renewable Energy (FDRE) project.

As per the order, Suzlon will supply 127 of its S144 turbines, spread across Maharashtra (180 MW), Madhya Pradesh (180 MW) and Tamil Nadu (21 MW). The project is part of SJVN’s FDRE bid in Maharashtra and Madhya Pradesh, while the Tamil Nadu portion will serve Commercial & Industrial customers.

Shares of Suzlon Energy ended 0.4% higher on Thursday at ₹61.47. The stock has declined 8.5% in the last one month.