Suzlon Energy experienced a significant surge in its stock price on June 20, hitting the upper circuit in the morning trade.

This sharp rise followed a substantial block deal in which shares worth Rs 179 crore changed hands.

According to exchange data, approximately 3.7 crore shares, representing about 0.3 percent of the company's equity, were traded in this block deal.

However, the identities of the buyers and sellers involved in this transaction remain unknown.

By 11:20 AM, Suzlon Energy's shares were trading at Rs 51.7 apiece on the NSE, marking a 3.7 percent increase from the previous close.

The stock is now approaching its 52-week high of Rs 52.1 per share, reflecting significant investor interest and confidence.

Suzlon's stock performance over the past year has been remarkable, with shares skyrocketing by 250 percent.

This impressive growth has more than tripled investors' wealth, especially when compared to the Nifty 50 index, which has only gained around 25 percent in the same period.

Recent developments within Suzlon Energy include the resignation of Marc Desaedeleer, an independent director who joined the board in 2016.

Desaedeleer resigned on June 8, citing satisfaction with the company's operational and financial performance over the last eighteen months but expressing concerns about compliance and transparency.

In his resignation letter, he noted several instances where the company's corporate governance did not meet his expectations, particularly regarding communication openness and transparency.

Despite these governance concerns, international brokerage Morgan Stanley remains optimistic about Suzlon Energy's future.

Morgan Stanley has assigned an 'overweight' rating to the company, viewing it as a key beneficiary of India's transition to cleaner, greener energy.

The brokerage highlights Suzlon's significant progress in deleveraging and reducing fixed operational costs, positioning it as a stronger and leaner entity.

However, Morgan Stanley believes that the market has not fully appreciated Suzlon's growth potential.

Suzlon's remarkable stock performance and recent block deal underscore the increasing investor confidence in the company's prospects.

As India continues to focus on renewable energy, Suzlon Energy stands poised to play a crucial role in the country's energy transition, potentially delivering substantial returns to its investors.