FIIs bought 27,17,11,310 shares & DIIs bought 2.87 per cent stake in Q1FY25: LIC-backed multibagger stock at Rs 65 locked in upper circuit & hit 52-week high on July 26
The stock gave multibagger returns of 260 per cent in 1 year and a whopping 1,360 per cent in 5 years.
On Monday, one multibagger stock was locked in a 5 per cent upper circuit to Rs 65 from its previous closing of Rs 61.91 per share backed by Life Insurance Corporation of India (LIC) (LIC owns a 1.03 per cent stake in this company). The stock also made a fresh new 52-week high of Rs 65 per share. In the recent trading sessions, the stock has been hitting back-to-back 52-week highs with heavy volume.
The champion stock name is SUZLON ENERGY LTD.
The company reported a stellar Q1FY25 performance, with a year-over-year profit growth of 200 per cent to Rs 302 crore. This strong performance was driven by some factors, including a 103 per cent increase in deliveries to 274 MW, the highest Q1 delivery in 7 years. Revenue also grew by 50 per cent to Rs 2,016 crore and EBITDA reached a record high of Rs 370 crore, representing an 86 per cent increase year-over-year. The company also reported a healthy net cash position of Rs 1,197 crores as of June 30, 2024.
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.
DSIJ's DSIJ's ‘Mid Bridge’ service recommends well researched Mid-Cap stocks for smart investing. If this interests you, do download the service details here.
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 88,500 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 260 per cent in 1 year and a whopping 1,360 per cent in 5 years. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
Also Read: 2:1 stock split in FY24 & Rs 22,000 crore order book: Multibagger shipbuilding & repair stock hit upper circuit on July 29; DIIs increase stake in Q1FY25