Suzlon Energy shares deliver 113% return in 6 months: Does more growth awaits?
Suzlon Energy have given multibagger returns of 113% in just 3 months and have increased by 116% so far this year, as the stock sustains its positive momentum.
Recently, the company announced it has received India’s largest wind energy order of 1,166 MW from NTPC Green Energy, the renewables arm of NTPC. This order requires Suzlon to install 370 S144 WTGs, each with a rated capacity of 3.15 MW, generating electricity to power 3 million households.
The stock is trading near its all-time highs, and the momentum seems unbroken. Investors might face a dilemma regarding the stock’s future prospects.
“The positives on the Suzlon counter seem to be steadily sustaining, but one must be a little prudent at this juncture,” said Rahul Ghose, CEO of Hedged.in.
On the fundamental side, the last quarter saw good results bringing the toll to 14 consecutive months of positive results, while on the technical side, the stock is seeing a rally with every rally having a small healthy correction before resuming on the upside, which can be considered ideal for a rally to continue.
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