For the fourth day in a row, Suzlon Energy Ltd. shares remain stuck in an upper circuit of 5%. The stock has reached its highest level since January 2010 at ₹80. So far in 2024, shares in the Wind Turbine Generator maker have doubled, with returns of more than 110%. On Friday, the stock’s market capitalization surpassed ₹1 lakh crore.
At the end of 2005, Suzlon debuted on the stock market with an IPO price of ₹500. Following several setbacks, the stock dropped as low as ₹2 in 2019, although it ultimately rose, mostly in 2023 and this year.
Suzlon Energy is rated as a “buy” by three of the five analysts that follow the company, the other two have a “hold” recommendation.
Suzlon Energy’s shares are now trading 5% higher at ₹80.36. In the past year, the stock has increased by 300%.
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