Multibagger stock under Rs 70: Back-to-back upper circuit in this wind energy stock; bags new order for 103.95 MW wind power project!

Shares of the company gained more than 50 per cent in the last six months.

Shares of Suzlon Energy Limited were locked in the upper circuit on Tuesday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock was locked in the upper circuit. The stock has gained more than 50 per cent in the last six months.

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.

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 stock.

Disclaimer: The article is for informational purposes only and not investment advice.