Suzlon Energy's shares may rise
New Delhi. Girish Tanti, vice president of leading Indian wind energy company Suzlon Energy, said that when wind mills were first installed in India, people used to make fun of them and say that these huge 'fans' would consume electricity instead of generating it, but now India is able to meet 10 percent of the global wind energy demand through exports. That is why the company is now gearing up for its next phase of growth with its Wind 2.0 and Suzlon 2.0 initiatives to expand into and beyond the wind power generation business.
One of the 5 wind energy companies
According to Tanti, Suzlon is one of only five global companies to survive in the wind energy sector. The other four companies are GE of America and Siemens, Vestas and Nordex of Europe. He emphasized that Suzlon is the only company in the 'Global South'. Tanti said that about 50 percent of India's energy requirement is now met from renewable sources and the country is moving towards achieving the target of becoming 100 percent carbon neutral by 2070.
People did not trust the company
Recalling the early days of Suzlon, Tanti said that people used to ask why these windmills were being installed, as they consume a lot of electricity. He said that now one 'turbine' can generate about one crore units of electricity per year which means one 'turbine' is enough to provide electricity to the entire village.
Let us tell you that Suzlon's shares have fallen by 11.8 percent in the last one month, by 29 percent in the last six months and by about 19 percent in the last one year. But still domestic brokerage firm Motilal Oswal Financial Services is positive about Suzlon Energy. It believes that the risk reward ratio remains favorable for investors. It has given a target of Rs 74 for the share, which will be an increase of more than 55 percent from the current price.
Read this also - BCCL shares fell after strong listing but recovered today, now the rate can reach ₹ 52; Don't miss the opportunity
"You can send your questions related to shares to us at business@jagrannewmedia.com."
(Disclaimer: The opinion given here on the stock is based on the information provided by a brokerage firm. Jagran Business is not giving investment advice. Investing in the stock market is subject to market risks, so please consult a certified investment advisor before investing.)
Chyawanprash is a part of every Indian's life, it reduces diseases and increases energy.