Multibagger penny stock under Rs 30: Back-to-back upper circuit in this renewable energy stock; bags massive order of 201.6 MW for wind turbines!

Shares of the company have gained about 200 per cent in the last six months.

Shares of Suzlon Energy Limited were locked in the upper circuit on Wednesday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days due to an order win. Hence, the stock is locked in the upper circuit. Shares of the company gained more than 200 per cent in the last six months.

The company has recently won a major order to supply 64 of its largest wind turbines with a rated capacity of 3.15 MW each for the 201.6 MW wind power project. The order is from Teq Green Power XI Private Limited, part of O2 Power Private Limited. The project is expected to be commissioned in 2025. The project will enable O2 Power to provide electricity to 1.66 lakh households and curb 6.55 lakh tonnes of CO2 emissions per year.

Suzlon Energy Limited has also delivered multibagger returns to its shareholders in the last one year. During this period, the company’s share price jumped from Rs 7.51 on August 30, 2022, to Rs 25.89 on August 30, 2023, an increase of about 220 per cent in one year holding period.

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Suzlon Energy is primarily engaged in the business of manufacturing wind turbine generators (WTGs) and related components of various capacities.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

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