Multibagger Penny stock under Rs 10: This mid-cap company secures a 39MW order from Thermax Group!

The stock generated 16.52 per cent returns in just 1 month.

The benchmark indices were trading higher since the pre-opening session. BSE Sensex and Nifty are up by 0.55 per cent each.  Suzlon Energy opened around the level of Rs 8.19 and ended the trading session at the day’s high of Rs 8.25, up by 0.73 per cent.   

On April 27, 2023, Suzlon Group, India’s largest renewable energy solutions provider, announced an order of its 3 MW product for the development of a 39 MW wind power project from First Energy 5 Private Limited (First Energy), a Thermax Group company.  

Suzlon will install 13 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3 MW each. The project, to be located at Thalaikattupuram, Tuticorin in Tamil Nadu is expected to be commissioned in 2024.  This order is part of a 100 MW Wind‐Solar Hybrid project by First Energy 5 Private Limited.    

As part of the agreement, Suzlon will supply the wind turbines (equipment supply) and supervise the project including erection and commissioning. Suzlon will also provide comprehensive operations and maintenance services post‐commissioning.    

The company has a market cap of over 9,500 crore with 3 years CAGR of 50 per cent. The company reported positive numbers in its Quarterly Results (Q3) where net profit skyrocketed 105.26 per cent compared to the same quarter last year.   

The stock generated multibagger returns of over 250 per cent in just 3 years and has a PE of 5.34x and an ROE of 387.03 per cent.   

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