Suzlon doubled its money in 3 months, and how much room is left to grow?

Suzlon Energy is one of the major stocks giving multi-bagger returns in recent months. Suzlon Energy’s low share prices make it even more special. Thus, it has become one of the best performing multibagger penny stocks in the last few months.

133% increase in 3 months

Shares of Suzlon Energy have also performed surprisingly well in the market. The stock price has more than doubled in just three months. Just three months ago today, on May 19, 2023, the price of one share of Suzlon Energy was only Rs 8.50, which is now around Rs 20. Thus, the price of this share has increased by 133% in the last 3 months.

Suzlon Energy’s share is going down a bit at the moment. On Friday, August 18, the stock closed at Rs 19.80 with a marginal gain of 0.51 percent, while in the last 5 days, the stock has lost more than 5 percent. The share price of Suzlon Energy has increased by around 6% over the past one month and has gained around 132% over the past 6 months.

Such a jump in 10 months

In October last year, nearly 10 months ago, the share fell to Rs 6.60, which is also a 52-week low for Suzlon Energy shares. Recently it also made a new 52-week high of Rs 21.25. Thus the stock has gained 222% in 10 months which makes it one of the best stocks.

The price may rise to this level.

Suzlon Energy recently raised Rs 2,000 crore through qualified institutional placement. The company had announced a QIP of up to Rs 1,500 crore with an oversubscription option of Rs 500 crore. The company had set a price of Rs 18.44 per share for the QIP. Talking about the coming days, analysts are giving Suzlon Energy a target of Rs 25-29.

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