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Shares of renewable energy sector company Suzlon Energy have been hitting the upper circuit for the last 3 trading days. The board meeting of the company was held on November 2. The quarterly results were announced on the same day. After which the company’s shares are continuously seeing an upper circuit. Let us tell you that Suzlon Energy has given strong returns to investors this year.
The IPO hit the stock market with a bang, netting investors a profit of Rs 189 per share.
The quarterly results made everyone happy
In Suzlon Energy’s disclosure to the stock markets last week, it was stated that the company’s net profit was Rs 102.29 crore. In the same quarter last year, the company’s net profit was Rs. 56.47 crores. The increase in the company’s profits is believed to be due to the reduction in costs. At the same time, the company’s revenue in the September quarter was Rs 1417 crore.
Adani is going to sell its stake in this giant company, know why this situation has arisen
Experts Give ‘Buy’ Tag (Suzlon Energy Target Price)
Brokerage firm JM Financial has given a ‘buy’ tag to Suzlon Energy shares. Experts have given a target price of Rs 37. Earlier it was Rs. was 30. Let us tell you that the shares of the company closed at the level of Rs 36.16 on Monday.
320% return in 1 year
Shares of Suzlon Energy have seen an increase of 320 percent in the last one year. At the same time, so far in 2023, the company has returned 241 percent to investors located in the stock market. 3 years ago in October 2020, the share price of Suzlon Energy was Rs 3.35 per share. Since then, the shares of the company were at the level of Rs 979 till now.