The stock generated multibagger returns of over 297 per cent in just 3 years and has a PE of 6.55x and an ROE of 387.03 per cent.
The benchmark indices were trading lower at the closing bell on Wednesday. BSE Sensex Index and NSE Nifty-50 Index are down over 0.30 per cent each.
Despite the market being in red, shares of Suzlon Energy Ltd opened around the level of Rs 9.56 and ended the trading session trading at the day’s high of Rs 10.20 per share, up by 7.82 per cent.
Suzlon Group, India’s largest renewable energy solutions provider, today announced that it has bagged a significantly large order for its new 3 MW series of wind turbines to develop a 300 MW wind power project for Torrent Power Limited. Suzlon will install 100 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3 MW each. The project is located in Karnataka and is expected to be commissioned in 2025.
This is the sixth and the largest order for the new Suzlon 3 MW series in less than a month and as part of the agreement, Suzlon will supply the wind turbines (equipment supply), provide land and execute the project including erection and commissioning. Suzlon will also provide comprehensive operations and maintenance services post‐commissioning.
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Below are the 6 orders that the company bagged as a part of the 3MW Series:
1) An order of 25.2 MW from Sri Kumaraswamy Mineral Exports Private Limited.
2) A 69+ MW order for the 3 MW series from a leading Nordic Energy Company.
3) A new order of 99 MW from Vibrant Energy.
4) Secures second order of 69.3 MW for their 3 MW series turbines from Juniper Green Energy Private Limited.
5) A 39 MW order for their 3 MW product series from a Thermax Group Company.
6) A new order of 204 MW from Serentica Renewables.
The company has a market cap of over 12,000 crore with 3 years CAGR of 60 per cent. The company reported positive numbers in its Quarterly Results (Q3) where net profit skyrocketed 105.26 per cent compared to the same quarter last year.
The stock generated multibagger returns of over 297 per cent in just 3 years and has a PE of 6.55x and an ROE of 387.03 per cent. Penny Stock Suzlon Energy should be kept under the radar.