Multibagger penny stock under Rs 40: This wind energy stock bags two 100.8 MW order from Mahindra Group and Nordic Energy; stock gains over 1,500 per cent!
Shares of the company have gained more than 150 per cent in the last six months.
Suzlon, India's one of the largest renewable energy solutions provider, is on a roll, bagging significant wind power orders across the country. These wins highlight the growing demand for clean energy solutions and Suzlon's position as a leading player in the market. In a major development, Suzlon has secured a 100.8 MW wind power order from Mahindra Susten, the clean-tech arm of the Mahindra Group. This project will see the installation of 48 wind turbines with a capacity of 2.1 MW each across Maharashtra.
Further strengthening its position, Suzlon has also bagged a repeat order for 100.8 MW from a leading Nordic energy giant. This project will be located in Karnataka and involve the supply of 32 of Suzlon's largest 3.15 MW turbines. Suzlon will handle the entire project lifecycle for both these orders, from equipment supply and installation to commissioning and ongoing maintenance. This demonstrates the company's comprehensive capabilities and commitment to providing end-to-end solutions for its clients.
Also read, Understanding Option Chain and Open Interest in Option Trading
Last week, Suzlon also secured a repeat order of 193.2 MW from The KP Group in Gujarat. This project, located in Bharuch district, will see the installation of 92 turbines.
In Q2FY24, the company posted a 0.92 per cent decline in its consolidated revenue at Rs 1,417.21 crore compared to Rs 1,430.38 crore from the previous year’s corresponding quarter. The operating profit of the company stood at Rs 232.30 crore, while the PAT of the company stood at Rs 102.29 crore, from Rs 56.47 crore last year in the same quarter. The stock has also delivered multibagger returns of over 210 per cent in the past one year, and in the last five years, the stock gained over 1,500 per cent.
The Suzlon Group is one of the leading renewable energy solutions providers in the world with 20.3 GW of wind energy capacity installed across 17 countries.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ’s 'Multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.