LIC-backed Multibagger stock under Rs 50: This wind energy stock bags 642 MW order; stock gains over 600 per cent!

The Indian government has been supportive of renewable energy in recent years, and the Union Budget 2025 is expected to include several measures to promote the sector.

Suzlon Group, a leading renewable energy champion in India, has secured an order for 642 MW of wind turbines, marking a significant milestone in the country's clean energy journey. This landmark project, situated in Andhra Pradesh, will harness the power of 214 of Suzlon's robust 3 MW turbines, each equipped with a sturdy Hybrid Lattice Tubular tower and the impressive S144-140m blades.

Suzlon's dedication goes beyond mere equipment supply. The company will also handle installation, commissioning, and comprehensive post-commissioning operations and maintenance, ensuring the project's seamless operation and sustained wind energy generation.

This monumental win aligns perfectly with the Indian government's growing focus on renewable energy. The upcoming Union Budget 2025 is anticipated to unveil several initiatives to propel the sector forward. These could include enticing tax breaks for renewable energy companies, attractive subsidies for consumers switching to renewable energy, and substantial investments in bolstering renewable energy infrastructure.

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. Headquartered at Suzlon One Earth in Pune, India, the Group comprises Suzlon Energy Limited and its subsidiaries. The stock has also delivered multibagger returns of over 600 per cent in the last three years. LIC owns a 1.12 per cent stake in the company.

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.