There is good news for stock market investors. The solar energy manufacturing company has made investors rich by giving bumper returns in 6 months. The shares of solar energy manufacturing company Suzlon Energy Limited have seen a spectacular rise in the last 6 months. Suzlon shares were at a low of Rs 7.05 at the end of March 2023. Since then, Suzlon's share prices have been skyrocketing. Penny stock worth Rs 7 has become a multibagger in 6 months. According to market experts, Suzlon's shares have been rising ever since the company announced its plans to reduce its debt.
Company received new orders
Solar energy manufacturing company Suzlon has recently received new orders, which has strengthened the order book and fundamentals of the company. The company's shares have increased by 300 percent in the last 6 months. Due to which this penny stock got the status of multibagger and investors' pockets are filled.
Why did the stock rise?
According to Rajesh Sinha of Bonza Portfolio, the company has given a return of 238 percent to positional investors in the last 6 months. This rise has come after the company's plan to reduce debt. After recent orders received from many brokerage firms, they are advising to buy this stock. Suzlon Energy Price Target Sumit Bagadia of Choice Broking on the shares of Suzlon Energy says that 'bullish trend is being seen in the shares of the company.
May continue and increase
Shares of Suzlon Energy may soon cross the level of Rs 40. You can hold this share for a target price of Rs 40 with a stop loss of Rs 25. On the last day of the last trading week, Suzlon Energy shares fell 1.85 per cent or Rs 0.55 to close at Rs 29.14. 52 week high of this share is Rs 29.82 and 52 week low is Rs 6.60. The market cap of Suzlon Energy is Rs 39,553.55 crore.
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