Multibagger penny stock under Rs 20: Ace investor Mukul Agarwal picks fresh stake in this renewable energy company; stock hits upper circuit!

The stock has gained more than 100 per cent in the last six months.

Mukul Agarwal, an Indian stock market investor. Mukul Agarwal holds about 50 stocks which are mostly in the Small-Caps. Mukul Agarwal is known for finding multibagger stocks in the stock market. And according to the latest filing, Mukul Agarwal bought a stake in Suzlon Energy Limited in Q1FY24. As of June 2023, Mukul Agarwal holds a 1.04 per cent stake in the company, with an approximate investment of more than Rs 200 crore. Owning to positive news, the stock made a fresh 52-week high and was also locked in the upper circuit on Friday.

Suzlon Energy recently announced that it has received a new order win for the development of a 100.8 MW wind power project for Everrenew Energy Private Limited. Suzlon will install 48 wind turbine generators (WTGs) of their S120 – 2.1 MW with a Hybrid Lattice Tubular tower at Velliyanani Phase II in Karur district and Vengaimandalam in Trichy in Tamil Nadu and the project is expected to be commissioned in March 2024.

Additionally, the company is planning to raise up to Rs 2,000 crore by issuing a combination of equity shares, convertible bonds, non-convertible debt instruments, or other instruments.

The stock has given multibagger returns of over 230 per cent in the last one year and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.