Share prices of this multibagger stock have doubled in less than six months and hit its upper circuit at Rs. 21.93
Suzlon Energy shares started trading at Rs. 21.01, reaching its 52- week high at Rs. 21.85 and its lowest price today at Rs. 21.01
Share prices of Suzlon jumped another 5% on Wednesday. Details about a bulk deal where (1% equity) 8.5 crore shares worth Rs. 185.4 crore being sold at an average price of Rs. 21.80 have unraveled.
With a market cap of Rs. 27,201 crore, the stocks gained 168.2% in six months and 165.8% since the last year.
For Q1FY23, the company’s net profit went up from Rs. -59.27 crore in the previous quarter to Rs. 0.13 crore in the current one.However, the net revenue of the company saw a fall of 33% from Rs. 1,011 crore to Rs. 706.13 crore in the last quarter. The company surely made a good profit this quarter keeping its expenditure less and minimal unlike the last one.
The promoters hold 13.29% stake in the company whereas the public holdings is a total of 86.71%
Suzlon Energy Limited is a renewable energy solution provider in the wind energy sector which manufactures heavy electrical equipment for clients who are involved in energy projects, especially wind. The company operates in six continents and have 14 manufacturing units in India.
Written by Bhumika Khandelwal
