Suzlon Energy’s shares have experienced a significant growth trajectory since mid-May 2023.
Over the past month alone, the stock has soared by an impressive 47.37 percent.
After dropping below Rs 8.20, the company’s share price reached Rs 16.80 today, marking a remarkable increase.
Investors who had put their money into this stock would have more than doubled their investment,
as the stock has provided multibagger returns over the past month and a half.
Today’s Trading: 10 Percent Upper Circuit
Suzlon shares started the day on a positive note, hitting a new 52-week high of Rs 16.80 on the NSE.
In contrast, the stock closed at Rs 15.30 on Friday. During today’s trading session, Suzlon’s shares reached the upper circuit of 10 percent.
Impressive Growth: Suzlon Energy Share Price
Suzlon Energy’s share price has been consistently moving upward over the past month and a half, surging from around Rs 8.20 to Rs 16.80, resulting in a remarkable 100 percent return during this period.
In the last month, the stock has risen from approximately Rs 11 to around Rs 16.80, reflecting a growth of about 50 percent.
Notably, ICICI Securities predicts further upside potential for Suzlon Energy shares.
Noteworthy Performance: 61.54 Percent Increase in 6 Months
Looking at the chart of the past five days, the company’s stock has witnessed a gain of 19.57 percent during this period.
Moreover, the stock price has increased by an impressive 61.54 percent over the past six months.
Suzlon’s 52-week high stands at Rs 16.80, while the low point is Rs 5.42.
‘Buy’ Rating for the Stock
ICICI Securities has assigned a ‘Buy’ rating to the stock, setting a target price of Rs 22.
It is worth mentioning that on March 26, 2020, the company’s stock hit its lowest level of Rs 1.51.
Conversely, on January 9, 2008, the share price reached a record high of Rs 431.
About Suzlon Group’s Business
Suzlon Group is a leading provider of renewable energy solutions.
The company operates in 17 countries and has a significant presence in India, where it manages wind energy assets totaling 13.9 GW.