Suzlon shares fall as officials point to grid delays and market trends

Suzlon Energy shares fell more than 1% on Friday, 25 September, amid reports highlighting the company's focus on India's wind repowering opportunity. The stock dropped 29.60% in the last three months, alongside a 7.16% drop over the past week, 8.97% in two weeks, 13.92% over one month, and a year-to-date decline of 23.41%. Suzlon Energy also declined as much as 3.6% on Thursday, 24 September, after around 3.2 crore shares, or 0.23% of its outstanding equity, changed hands in large trades. Speaking at WindEnergy 2026 in Hamburg, Suzlon Group Vice Chairman and co-founder Girish Tanti stated that the wind repowering opportunity could reach roughly 30 GW in India and 50 GW in Europe. Tanti noted that grid readiness remains a key constraint for renewable development. While transmission infrastructure takes about five years to build, wind and solar projects take under two years, creating a need to cut grid timelines to 12 to 18 months. He added that India remains on course for its 100 GW wind capacity target by 2030, provided transmission networks expand faster and auction pipelines remain steady, as part of a broader 500 GW renewable target by 2030. Tanti also noted he is not overly concerned about competition from Chinese original equipment manufacturers, and expects Suzlon's order book to eventually split evenly between DevCo projects and engineering, procurement and construction contracts, alongside firm and dispatchable renewable energy projects. As of the June 2026 quarter, promoters held an 11.71% stake in Suzlon Energy, while public shareholders owned 88.29%. Indian mutual funds held 6.47%, with Motilal Oswal Manufacturing Fund holding 2.88%. The stock opened at ₹40.83 on the BSE, hitting an intraday high of ₹41.09 and a low of ₹40.13. Hitesh Rathi, Technical Analyst at Angel One, stated the stock faces resistance near ₹61 and support at ₹39, noting sustained downside needs a break below ₹39 while current trading sits below major EMAs. Virat Jagad, Senior Technical Research Analyst at Bonanza, added that major weekly support lies in the ₹37–38 zone, and a reversal candle with improving volume could signal a bounce.