World's largest asset manager, BlackRock, now owns 68,00,00,000 shares of this multibagger stock under Rs 50 with a net debt-free balance sheet and a 1,613-MW order book; do you own it?

The stock has given multibagger returns of 265 per cent in just 6 months while the BSE Sensex Index is up by 9.37 per cent.

Indian stock markets surged to record highs, fuelled in part by the Bharatiya Janata Party's (BJP) landslide victory in three key state elections. Investors cheered the outcome, interpreting it as a vote of confidence in the government's economic policies and future stability.

The BJP's triumph in Madhya Pradesh, Rajasthan, and Chhattisgarh, crucial Hindi heartland states, is seen as a major boost for Prime Minister Narendra Modi Ji's administration, potentially paving the way for further economic reforms and investor-friendly initiatives.

The BSE Sensex Index is up by 1,106.63 points or 1.64 per cent and made a new 52-week high of 68,587.82 and the NSE Nifty-50 Index is up by 334.6 points or 1.65 per cent and made a new 52-week high of 20,602.5.

Along with the market in green, this multibagger stock gained 4.52 per cent to an intraday high of Rs 41.20 per share from its previous closing of Rs 39.42. The stock’s 52-week high is Rs 44 and its 52-week low is Rs 6.96.

Let's turn our attention to SUZLON ENERGY LTD, the stock we'll be dissecting today.

As of November 30th, the World's largest asset manager with USD 9.1 trillion, BlackRock had amassed 68 crore shares, representing a 5.01 per cent stake in the company. Their November buying spree added another 24.7 lakh shares to their portfolio as part of MSCI-related inflows.
Suzlon's promoters hold a 13.29 per cent stake in the company and have no plans to increase their stake at this time. Dilip Shanghvi and Associates terminated their shareholder agreement with Suzlon in September, but Shanghvi remains a key investor in the company. Suzlon currently has 1.6 GW of confirmed orders and a strong pipeline of potential orders. The company is in a net cash position and has no immediate plans to divest any assets. Suzlon will be included in the MSCI Global Standard index on Thursday, which is expected to result in net inflows of nearly USD 300 million.

The company now has a net debt-free balance sheet after its recent qualified institutional placement. It has a net cash surplus of Rs 600 crore on its books. Suzlon Group's S144 wind turbine series, capable of 3MW and upgradable to 3.15MW, has also received crucial approval for commercialization in India. This marks a significant milestone for the product, which boasts a prototype already installed and undergoing serial manufacturing.

According to the Quarterly Results, the net sales decreased by 1.14 per cent to Rs 1,421.43 crore while the net profit increased by 81.14 per cent to Rs 102.29 crore in Q2FY24 compared to Q2FY23. As of September 2023, FIIs increased their stake from 7.79 per cent to 10.88 per cent and DIIs increased their stake from 5.90 per cent to 9.81 per cent stake in the company.

Earlier, Suzlon Energy's ratings have been upgraded by CRISIL from 'CRISIL BBB‐/A3' to 'CRISIL BBB+/A2' with a positive outlook. This is due to the company's strengthened financial position, operational excellence, and favourable sectoral tailwinds.

Suzlon Energy is a leading renewable energy company with a market capitalization of Rs 54,000 crore. As of September 30, 2023, the company's cumulative order book stands at over 1,613 MW and an ace investor Mukul Agarwal holds 13,00,00,000 or 13 crore shares in the company.

The stock has given multibagger returns of 265 per cent in just 6 months while the BSE Sensex Index is up by 9.37 per cent.

Do you own this stock in your portfolio? Do let us know in the comments below

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

1 comments on article "World's largest asset manager, BlackRock, now owns 68,00,00,000 shares of this multibagger stock under Rs 50 with a net debt-free balance sheet and a 1,613-MW order book; do you own it?"

D.S.Kasture

Yes.I am holding 1130 shares of this co.& now my investment value has become more than double,

12/4/2023 2:09 PM

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