Heavy buying: Back-to-back upper circuit in this multibagger renewable energy stock; bags new order for 50.4 MW wind power project!

Shares of the company have gained about 350 per cent in the last six months.

Shares of Suzlon Energy Limited were locked in the upper circuit on Monday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. In the last six months, the stock has gained about 350 per cent.

The company posted robust Quarterly Results. The revenue of the company for Q2FY24 stood at Rs 1417.21 crore which grew by 0.92 per cent YoY. The company's operating profit stood at Rs 232.30 crore, while the PAT of the company stood at Rs 102.29 crore, which grew by 81.14 per cent on a YoY basis. Suzlon has also received an order for a 50.4 MW wind power project in Gujarat. The project will use 16 of Suzlon's largest turbines, the S144-140m, and is expected to be commissioned in 2025.

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Suzlon is a global leader in wind power solutions, offering customized turbines for installation in a variety of climates. With state-of-the-art R&D centres and training campuses in India, Suzlon combines global experience with local expertise to maximize techno-economic value for its clients.

Suzlon has a backlog of 1,582 megawatts of orders, with a focus on pursuing high-value, high-margin orders. More than half of the orders are for the next year. This strong order book and focus on high-margin orders have contributed to a 330 per cent gain in Suzlon's share price over the past year.

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.