Penny stock: Suzlon Energy surged 12 per cent today, ending a 4-day losing streak!
The stock has a PE multiple of 6.16 and an ROE of 368.02 per cent respectively.
Suzlon Energy Ltd shares surged 11.23 per cent to Rs 10 per share on the BSE today, from a previous close of Rs 8.99 per share. At 15:30 IST, the company's shares closed at Rs 9.77 a share, an 8.68 per cent increase.
Domestic indices have been trading lower over the last four days and the company's shares have also been falling simultaneously. Today, most of the sectors were trading in green, except for the healthcare sector which plunged 0.45 per cent. The top sectors that increased today were BSE Power Index and BSE Energy Index and one of them was shares of Suzlon Energy.
Suzlon Energy Ltd is engaged in designing, manufacturing, operating and maintaining wind-generating equipment. The company has more than 19,000 MW of installed wind energy capacity and operates in 17 countries. Recently, the company conducted a right offering to raise funds by issuing more shares in the ratio 5:21, resulting in a debt reduction of nearly Rs 600 crore as of November 4, 2022. According to the quarterly and annual financial statements, the corporation reported positive results. In FY22, the company increased in total revenue by 96.72 per cent to Rs 6581.78 crore, compared to total revenue of Rs 3,345.72 crore in FY21.
Suzlon Energy Ltd has a market cap of Rs 11,213 crore. In the past 6 months, the stock gave more than 50 per cent returns. The company’s 52-week high is Rs 12.19 per share whereas its 52-week low is Rs 5.43 per share. The stock has a PE multiple of 6.16 and an ROE of 368.02 per cent respectively. Investors should keep an eye on this stock.