The shares of Suzlon Energy Limited opened at Rs 9.25 on Monday and rose by 20 per cent to hit an upper circuit at Rs 10.55. The stock has surged by more than 32 per cent in the past five days. It has delivered a return of more than 41 percent in a month.
In September 2020, the stock was trading at Rs 3.35 a piece on NSE. From there it has climbed up to the current levels thereby logging a multibagger return of approximately 202 per cent in two years.
The company recently pledged 52.39 lakh or 5.35 per cent stake in favour of SBICAP Trustee Company Limited. This takes the total pledged shares to about 97.10 lakh or 9.92 per cent with SBICAP Trustee.
Suzlon Energy is looking to raise up to Rs 1,200 crore through a rights issue of shares by the fiscal end to pare the refinanced debt of Rs 3,000 crore, its Chief Financial Officer Himanshu Mody told PTI.
In Q1FY23, the company earned a total revenue of Rs 1,380 crores up 21 per cent from Rs 1,141 crores which it earned in the same quarter a year ago.
In the quarter under review, their net profit jumped multifold to Rs 2,432 crores up from Rs 3 crores which they earned in the same quarter in FY22.
Suzlon Energy Ltd is a leader in wind energy in India. It is primarily engaged in the business of manufacturing wind turbine generators (WTGs) and related components of various capacities.
The company has a market capitalization of Rs 10,033 crores and its promoter’s holding stands at 88.54 per cent with 14.92 per cent shares pledged. The stock is undervalued as its TTM PE stands at 4.48 while the sector in which it operates has a PE of 23.51.
Written by Anoushka Roy
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It might go upto 300 rs.in just September/October. Right time to invest in suzlon
But it’s book value (net worth) as per moneycontrol is -3. 25 minus
Sir is it will go up to. ₹. 300
Suzlon energy might jump in near future.so keep investing the stock for long run