Surana Telecom and Power: Former penny stock turns multibagger, soars 796% in 4 years

livemint.com:

Surana Telecom and Power, previously a penny stock, has delivered exceptional returns for long-term investors. Over the past four years, its stock price has surged by an impressive 796 percent, climbing from ₹2.95 in June 2020 to around ₹26.45. This remarkable growth highlights Surana's consistent value appreciation, making it a standout performer in the penny stock category and showcasing its potential as a high-return investment opportunity.Meanwhile, over the past 5 years, the stock has surged by an impressive 494 percent, rising from ₹4.05 in June 2019.

Similarly, over the last 3 years, it has shown significant growth of 259 percent, starting from ₹6.70 in June 2021.In recent times as well, Surana Telecom And Power has demonstrated strong performance, gaining 172 percent over the past year and 56 percent year-to-date in 2024. The stock has delivered positive returns in 4 out of the 6 months so far this year. In June, it jumped almost 35 percent following a rise of 18 percent in May and 2 percent in April.

Prior to that, it declined 18 percent in March and 5.5 percent in February. January 2024 saw a notable increase of 23 percent in the stock's value.Surana Telecom And Power hit its record high of ₹26.57. However, it has shown strong resilience by surging 206 percent from its 52-week low of ₹8.68, recorded on July 14, 2023.Surana Telecom and Power Limited engages in the generation and sale of solar and wind energy, and trading of solar modules in India.