Multibagger penny stock under Rs 10: This mid-cap company secures a new order of 204 MW from Serentica Renewables!

The stock generated multibagger returns of over 270 per cent in just 3 years and has a PE of 6.05x and an ROE of 387.03 per cent.

On Monday, the benchmark indices ended the trading session higher. BSE Sensex Index was up by 0.38 per cent and NSE Nifty-50 Index was up by 0.61 per cent. One of the gainers on BSE, shares of Suzlon Energy Ltd opened around the level of Rs 8.58 and ended the trading session trading at the day’s high of Rs 9.56 per share, up by 11.42 per cent.

Suzlon Group, India’s largest renewable energy solutions provider, today announced that it has bagged a significantly large order for its 3 MW series of wind turbines from Serentica Renewables ‐ a decarbonization platform that seeks to accelerate the energy transition for energy-intensive industries.

Suzlon will install 68 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3 MW each for Serentica’s 204 MW wind power project coming up at Koppal in Karnataka. The project is expected to commission by early 2024.

This is the fifth order for the Suzlon 3 MW series in less than a month and as part of the agreement, Suzlon will supply the wind turbines (equipment supply) and execute the project including erection and commissioning. Suzlon will also provide comprehensive operation and maintenance services post-commissioning.

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Below are the 5 orders that the company bagged as a part of the 3MW Series:

1) An order of 25.2 MW from Sri Kumaraswamy Mineral Exports Private Limited. 

2) A 69+ MW order for the 3 MW series from a leading Nordic Energy Company.

3) A new order of 99 MW from Vibrant Energy.

4) Secures second order for their 3 MW series turbines from Juniper Green Energy Private Limited of 69.3 MW

5) A 39 MW order for their 3 MW product series from a Thermax Group Company.

The company has a market cap of over 11,212.70 crore with 3 years CAGR of 54 per cent. The company reported positive numbers in its Quarterly Results (Q3) where net profit skyrocketed 105.26 per cent compared to the same quarter last year. The shares of the company saw a spurt in volume by more than 3.01 times on BSE.

The stock generated multibagger returns of over 270 per cent in just 3 years and has a PE of 6.05x and an ROE of 387.03 per cent. Penny Stock Suzlon Energy should be kept under the radar.