₹7 to ₹29: Why Suzlon shares surged 300% in six months — explained
₹7.05 apiece levels at the end of March 2023 and since then Suzlon share price has been skyrocketing. In last six months, this penny stock has tunred one of the multibagger stocks of Dalal Street that Indian stock market has delivered in FY24.
According to stock market experts, bulls have been betting high on Suzlon shares after the company announced its debt reduction plans. They said that the company has recently received fresh orders that has strengthened company's order book and fundamentals.
Speaking on the reason for bull trend in Suzlon shares, Rajesh Sinha, Sr. Research Analyst at Bonanza Portfolio said, "Suzlon Energy share price has been skyrocketing in the past 5 month to ₹29.25 currently from ₹8.65 on 5th May 2023, giving 238 per cent return.
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