Heavy buying: multibagger stock under Rs 20 achieves back-to-back 52-week highs and upper circuit!

Wind Turbine Generators stock has given multibagger returns of more than 211 percent in just 3 years.

On Monday, Suzlon Energy Limited experienced a significant surge of 9.98 per cent, propelling the stock to reach an impressive new 52-week high of Rs 16.86 per share on BSE. The trading volume for the scrip witnessed a substantial increase, surpassing 2.40 times the average volume, indicating strong investor interest. Furthermore, the shares reached the upper circuit at Rs 16.86 per share on the BSE, highlighting the stock's upward momentum.

The Sensex, India's benchmark stock index, concluded the session with a 0.75 per cent increase, reaching a record-breaking high of 65,300 points. Similarly, the Nifty, another prominent stock index, recorded a 0.7 per cent uptick, hitting an all-time high of 19,345 points. These remarkable achievements signify the market's positive momentum and investor confidence.

The financial performance of the company is as follows:  

For FY23 the company’s sales dipped by 9.28 per cent from last year to Rs 5,971 crore. In similar fashion, the operating profit witnessed a downfall of 7.5 per cent on YoY basis, amounting to Rs 832 crore. On the other hand, company’s net profit increased significantly by more than 1500 per cent form FY22, reaching Rs 2,887 crore.

The stock has seen tremendous purchasing activity since it has provided multibagger returns of more than 171 percent in just two years similarly, multibagger returns of more than 211 percent in three years.

Investors should keep a close eye on this trending Mid-Cap multibagger electrical equipment stock.