Multibagger penny stock under Rs 30: This heavy electrical equipment company receives new order of 29.4 MW from BrightNight!
The stock has given multibagger returns of 221 per cent in just 6 months, while the BSE Sensex Index is up by 13.39 per cent.
Suzlon Group, India’s largest renewable energy solutions provider, today announced a new order win for the development of a 29.4 MW of wind installed capacity for 100 MW co‐located wind‐solar hybrid project of BrightNight, a global renewable power producer.
Suzlon will install 14 units of their S120 – 140m wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 2.1 MW each at Osmanabad in Maharashtra. The project is expected to be commissioned in phases, beginning in April 2024. Suzlon will execute the project with a scope of supply, installation, and commissioning. Additionally, Suzlon will also offer post‐commissioning operation and maintenance services.
BrightNight is building a large wind and solar power plant in Maharashtra, India. The plant will use 14 wind turbines and many solar panels to generate electricity. The electricity will be sold to businesses in Maharashtra. The plant will be big enough to power about 50,000 homes and will save the atmosphere from about 2.5 lakh tonnes of CO2 emissions per year.
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On Friday, shares of Suzlon Energy Ltd plunged 1.73 per cent to Rs 25.05 per share with an intraday high of Rs 25.86 and an intraday low of Rs 24.50. The stock's 52-week high is Rs 27 and its 52-week low is Rs 6.60.
Suzlon Energy is a leading renewable energy company with a market capitalization of over Rs 33,000 crore. The company's stock price has grown at a compounded annual growth rate (CAGR) of 82 per cent over the past three years. As of May 30, 2023, the company's cumulative order book stands at over 1,500 MW.
The stock has given multibagger returns of 221 per cent in just 6 months, while the BSE Sensex Index is up by 13.39 per cent. Suzlon Energy is a penny stock that investors should keep under their radar.
Disclaimer: The article is for informational purposes only and not investment advice.