LIC-backed multibagger stock under Rs 80: Back-to-back Upper Circuit in this wing energy stock, market cap crosses Rs 1 lakh crore!
The share of the company has given multibagger returns of 283.76 per cent in a year.
Suzlon Energy Ltd’s shares have reached its 14-year high, locking in the 5 per cent upper circuit in today's trading session. The stock hit its highest level since January 2010, pushing the company's market capitalisation to Rs 1.04 lakh crore. This increase marks a significant milestone as the company’s market cap crosses Rs 1 lakh crore.
The stock has shown a consistent upward trend since last one month, appreciating by 37.52 per cent over this period. Since March 2023, Suzlon Energy has recorded a gain of 869 per cent. The positive market performance is attributed to strong quarterly financial results, debt reduction efforts, and substantial order wins, with the order book expanding to 3.8 GW by the end of Q1 FY25.
The company posted strong Quarterly Results. The revenue of the company for Q1FY25 stood at Rs 2,015.98 crore which grew by 49.61 per cent YoY. The operating profit of the company stood at Rs 392.84 crore, while the PAT of the company stood at Rs 302.29 crore, representing an impressive growth of 199.59 per cent YoY.
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Earlier, Suzlon secured a 103.95 MW wind power project order from AMPIN Energy Transition Private Limited. The project involves the installation of 33 wind turbines with a rated capacity of 3.15 MW each in Fatehgarh district, Rajasthan. The turbines will be equipped with Suzlon's Hybrid Lattice Tubular tower technology. This project is part of a larger hybrid project and is expected to power approximately 85,000 households while reducing carbon emissions by 3.38 lakh tonnes annually. Suzlon will handle the entire project, including equipment supply, erection, commissioning, and post-commissioning operations and maintenance.
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. The company’s client portfolio includes power utilities and electricity producers in both the private and public sectors.
The stock has shown tremendous growth, and investors should keep a close eye on this Large-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.