Suzlon Energy Share up 0.69% in Early Trade on May 2

Shares of Suzlon Energy went up by 0.69% to ₹56.79 apiece in the early morning trade today, May 2. The rise can be attributed to buying interest among investors in the renewable energy sector, further aided by government policy initiatives and clean energy targets.

The scrip opened at ₹56.16 apiece, moving to day’s high of ₹56.97. The market capitalisation of the company stands at ₹77,510 crore.

Why is Suzlon Energy gaining today?

* The uptick in Suzlon Energy shares can be attributed to several reasons, which are

* Heightened buying in green energy-focused portfolios

* Hopes of strong order inflow and execution in FY25

* Positive momentum in renewable energy PSUs, thereby boosting investor sentiments

* Interest among retail investors, supported by a positive medium-term outlook

Investor sentiments

As the Indian government is aiming to increase renewable energy capacity to 500 GW by 2030, players like Suzlon are likely to get benefitted. While institutional investors are keeping a close eye, fund houses have been adding renewable energy companies to their portfolios. Suzlon Energy shares have also featured in thematic ETFs. Meanwhile, retail investors are betting big on the stock, as optimism around clean energy fuels the ongoing momentum.