Suzlon‘s share price continued its dream run on Monday surging over 10% to hit a new 52-week high of ₹16.80. The renewable energy company has had a great run at the bourses this year.
The Investment: If your dad had invested ₹10,000 in Suzlon a decade ago, he would have bought approximately 1,196 shares. With the current market price at ₹16.80, that investment would now be worth approximately ₹20,092. However, its to be noted that the surge in the Suzlon share price is very recent after being subdued for the better part of the decade. The stock has surged up over 55% since the start of the year.
Background: The surge today comes as the company was moved out of the short-term ASM framework. Analysts at ICICI Securities just last week initiated coverage on the stock with a ‘buy’ rating and a price target of ₹22. The impressive rally has been backed up by the company bagging several orders in the past two months.
Price Action: Suzlon Energy’s share price surged close to 10% to hit upper circuit at ₹16.80 on Monday.
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