Suzlon: This Penny Stock Has Given Bumper Returns Over 900% In Last Three Years; Details Inside

Suzlon Energy Limited shares have caught investors' attention as the stock has offered whooping returns to investors who bought the company's shares six months ago or those who have been holding the stock since last one year or even earlier than that. The share price of Suzlon Energy Limited has gained 955.80% in the last three years. Suzlon Energy shares closed 1.85% lower at Rs 29.14 per piece on Friday.

Suzlon share price performance:

Suzlon shares bottomed out at Rs 7.05 per share at the end of March 2023 and since then the share price of Suzlon has been skyrocketing. The penny stock has turned out to be a multi-bagger stock given its last six months' performance. In terms of year-to-date (YTD) performance Suzlon shares have rallied 171.83%, its last 3 year returns have soared 955.80%, while it has advanced 279.92 in the last one year.

The stock seems to be a buy for investors looking for attractive returns from their investment.

Why this rally in Suzlon Shares?

The bull run in the shares of Suzlon Energy is seen after the company announced its debt reduction plans. In addition, the fresh orders received by the company which have strengthened its order book and fundamentals have also contributed to the rally seen in Suzlon shares.

Last month, CRISIL upgraded Suzlon Energy Limited's ratings by two notches to 'BBB+' with a Positive Outlook.
In August this year, Suzlon announced a significantly large new order acquisition for its 3 MW series of wind turbines from Teq Green Power XI Private Limited, part of O2 Power Private Limited. Suzlon will install 64 of its largest wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW each for the 201.6 MW wind power project. The project is expected to be commissioned in 2025.

Earlier, in July the group secured a new order for the development of a 47.6 MW wind power project for The KP Group. The project is located at Vagra in Bharuch district in Gujarat and is expected to be commissioned in 2024.
The Suzlon Group is one of the leading renewable energy solutions providers in the world with more than 20 GW* of wind energy capacity installed across 17 countries. Headquartered at Suzlon One Earth in Pune, India; the Group comprises Suzlon Energy Limited and its subsidiaries.