Multibagger stock under Rs 50: This heavy electrical equipment company secures 726.6 MW new orders for the 3 MW series – scrip hit upper circuit!

The stock gave multibagger returns of 140 per cent in just 6 months while the BSE Sensex Index is up by 9.31 per cent.

On Monday, the Indian benchmark indices ended the day in red with BSE Sensex Index down 0.93 per cent and NSE Nifty-50 Index down 0.91 per cent.

Though the market was in red, this multibagger stock was locked in a 5 per cent upper circuit to Rs 42.66 per share. The shares of the company saw a spurt in volume by more than 2.47 times on BSE.

The champion stock name is Suzlon Energy Ltd. The company is a leading renewable energy company with a market cap of over Rs 57,000 crore. Additionally, the company is now a part of the BSE Mid-Cap Index and BSE Power Index.

Suzlon Group have recently secured 726.6 MW new orders for the 3 MW series. Here are the details:

Order No. 1: Suzlon has secured a major 225 MW wind power project order from Everrenew Energy, supplying 75 wind turbines across two Tamil Nadu sites. This project, using Suzlon's latest 3 MW turbines, will power both captive consumption and C&I customers, while generating enough electricity for 185,000 households and reducing CO2 emissions by 731,000 tonnes annually.

Order No. 2: Suzlon has secured a 300 MW wind power project order from Apraava Energy, supplying 100 3 MW turbines for Karnataka. This SECI auction win will power 247,000 households and reduce CO2 emissions by 975,000 tonnes annually, showcasing Suzlon's commitment to clean energy solutions.

Order No. 3: Suzlon Group has secured a repeat order from a leading Nordic Energy Company to develop a 100.8 MW wind power project in Karnataka, India. The project will involve the installation of 32 wind turbines, each with a rated capacity of 3.15 MW, and will supply electricity to commercial and industrial customers. It's estimated that the project will provide electricity to approximately 77,000 households and reduce carbon dioxide emissions by 302,000 tonnes annually.

Order No.4: Suzlon Group has secured a new order from Mahindra Susten, a Mahindra Group company, to develop a 100.8 MW wind power project in Maharashtra. Suzlon will install 48 wind turbines with a capacity of 2.1 MW each, supplying clean electricity to commercial and industrial customers in the state. This project showcases Suzlon's full scope of services, from supply and installation to commissioning and maintenance.  

As of September 30, 2023, the company has accumulated orders totalling more than 1,613 MW. Distinguished investor Mukul Agrawal holds 13 crore shares in the company. Additionally, as of November 30, 2023, BlackRock, the world's largest asset manager with USD 9.1 trillion in assets, has acquired 68 crore shares, equating to a 5.01% stake in the company. Following a recent qualified institutional placement, the company now boasts a debt-free balance sheet and holds a net cash surplus of Rs 600 crore.

The stock gave multibagger returns of 140 per cent in just 6 months while the BSE Sensex Index is up by 9.31 per cent. Investors should keep an eye on this power stock.

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