{"id":3912,"date":"2024-09-11T09:55:30","date_gmt":"2024-09-11T04:25:30","guid":{"rendered":"https:\/\/lakshmishree.com\/news\/?p=3912"},"modified":"2024-09-11T09:55:32","modified_gmt":"2024-09-11T04:25:32","slug":"suzlon-energy-shares-surge-5-again-multibagger-stock-rises-241-in-a-year","status":"publish","type":"post","link":"https:\/\/lakshmishree.com\/news\/suzlon-energy-shares-surge-5-again-multibagger-stock-rises-241-in-a-year\/","title":{"rendered":"Suzlon Energy Shares Surge 5% Again; Multibagger Stock Rises 241% in a Year"},"content":{"rendered":"\n

Suzlon Energy shares continued their upward trajectory on September 11, rising 5 percent to hit the upper circuit. The stock has been gaining momentum after Morgan Stanley<\/strong> reaffirmed its ‘overweight’ rating, driven by the company’s recent win of India’s largest wind energy order<\/strong> from NTPC Green Energy Ltd<\/strong>, a subsidiary of NTPC Ltd.<\/p>\n\n\n\n

Suzlon has seen keen buying interest in recent weeks after the company cleared nearly Rs 1,500 crore of debt in FY 2023-24 and reporting a positive net worth for the first time in ten years. Long-only funds such as Black Rock have also joined the shareholder list of Suzlon, which has helped improve market confidence.<\/p>\n\n\n\n

The stock has gained nine times between April 2023 and September 2024, while its market capitalization jumped from Rs 10,000 crore to over Rs 1 lakh crore in the same period. Suzlon’s order book has also increased eightfold in this period partly because of a recent order from NTPC Green Energy.<\/p>\n\n\n\n

Several brokerage firms are turning bullish over the prospects of Suzlon. ICICI Securities has increased the target price to Rs 80 from Rs 70 while maintaining an ‘Add’ rating.<\/p>\n\n\n\n

It values the stock at 50 times its projected FY26 earnings of Rs 1.60 per share. In a related development, JM Financial noted that the agreement to sell Suzlon’s Corporate Office Suzlon One Earth is a strategic transaction that will further enhance the financial health of Suzlon. It also said the deal is in line with its approach towards an asset-light environment in a bid to rise in working capital requirements. At 9:33 am, Suzlon Energy shares were trading at Rs 81.95 apiece, locked in the 5 percent upper circuit. The stock has rallied 112 percent year-to-date, sharply outpacing the Nifty’s 14 percent returns.<\/p>\n\n\n\n

Do you have a news tip for Lakshmishree reporters? Please email us at <\/em>media@lakshmishree.com<\/p>\n\n\n\n

Source:\u00a0Moneycontrol<\/a><\/sup><\/sub><\/p>\n","protected":false},"excerpt":{"rendered":"

Suzlon Energy shares continued their upward trajectory on September 11, rising 5 percent to hit the upper circuit. The stock has been gaining momentum after Morgan Stanley reaffirmed its ‘overweight’ rating, driven by the company’s recent win of India’s largest wind energy order from NTPC Green Energy Ltd, a subsidiary of NTPC Ltd. Suzlon has […]<\/p>\n","protected":false},"author":1,"featured_media":3913,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[50],"tags":[355],"class_list":["post-3912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-market","tag-suzlon-energy"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/3912","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=3912"}],"version-history":[{"count":1,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/3912\/revisions"}],"predecessor-version":[{"id":3914,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/3912\/revisions\/3914"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/3913"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=3912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=3912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=3912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}