FIIs bought over 27 crore shares & DIIs increased stake: LIC-backed multibagger stock under Rs 75 hit a 52-week low and ended the trading session by hitting the lower circuit!
The stock gave multibagger returns of 270 per cent in 1 year and a whopping 1,670 per cent in 5 years.
On Monday, a stock with a history of significant price appreciation (a multibagger) experienced a slight 0.43 per cent increase in value. This upward movement pushed the stock's price to a new high point for the past year, reaching Rs 71.75 per share. This price marked a significant achievement, as it also represented the highest value the stock has attained in the last 14 years. The Life Insurance Corporation of India (LIC) holds a 1.03 per cent ownership stake in the company. However, despite this early surge, the stock's momentum reversed sharply. By the end of the trading day, the price had plummeted by 5 per cent, hitting the lower circuit limit of Rs 67.87 per share.
The champion stock name is SUZLON ENERGY LTD.
Suzlon is one of the leading global renewable energy solutions providers. It is a vertically integrated WTG manufacturer. It also undertakes installation and O&M of all WTG sales. Operations include design development and manufacturing of all major components, including rotor blades, tubular towers, generators, control equipment, gears and nacelles. Apart from manufacturing, it offers a full gamut of wind project planning and execution services, including wind resource assessment, infrastructure and power evacuation, technical planning and execution of wind power projects. It also offers O&M services in India and overseas countries.
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The company delivered exceptional Q1FY25 results, with profits soaring 200 per cent year-over-year to Rs 302 crore, driven by a 103% increase in deliveries to 274 MW, the highest Q1 performance in seven years. Revenue climbed 50 per cent to Rs 2,016 crore, and EBITDA reached a record Rs 370 crore, up 86 per cent year-over-year. The company maintained a robust financial position with a net cash balance of Rs 1,197 crore as of June 30, 2024.
Suzlon Energy Ltd is a mid-sized company in the power sector, listed on the Bombay Stock Exchange (BSE) & National Stock Exchange (NSE) with a market capitalization exceeding Rs 97,000 crore. This indicates the total market value of the company's outstanding shares. The company is also included in the BSE's Power Index, reflecting its focus on the power industry. As of June 30, 2024, Suzlon has a healthy order book of 3.8 gigawatts, indicating upcoming projects and potential revenue generation.
In June 2024, FIIs bought 27,17,11,310 shares and increased their stake to 21.53 per cent and DIIs increased their stake to 9.17 per cent stake compared to 19.57 per cent and 6.30 per cent respectively, in March 2024. The stock gave multibagger returns of 270 per cent in 1 year and a whopping 1,670 per cent in 5 years. Investors should keep an eye on this mid-cap power stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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