LIC-backed Multibagger penny stock under Rs 40: This wind energy stock bags 300 MW order from Apraava Energy; stock gains over 1,500 per cent!

Shares of the company have gained more than 150 per cent in the last six months.

Suzlon Group, India's one of the largest renewable energy solutions providers, has secured a new order for the development of a 300 MW wind power project for Apraava Energy Private Limited. The project will be located in Karnataka and will use 100 wind turbine generators with a rated capacity of 3 MW each.

Recently, Suzlon secured a 100.8 MW wind power order from Mahindra Susten, the clean-tech arm of the Mahindra Group. This project will see the installation of 48 wind turbines with a capacity of 2.1 MW each across Maharashtra.

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Further strengthening its position, Suzlon has also bagged a repeat order for 100.8 MW from a leading Nordic energy giant. This project will be located in Karnataka and involve the supply of 32 of Suzlon's largest 3.15 MW turbines. Suzlon will handle the entire project lifecycle for both these orders, from equipment supply and installation to commissioning and ongoing maintenance.

The stock has also delivered multibagger returns of over 210 per cent in the past one year, and in the last five years, the stock gained over 1,500 per cent. LIC owns a 1.12 per cent stake in the company.

The Suzlon Group is one of the leading renewable energy solutions providers in the world with 20.3 GW of wind energy capacity installed across 17 countries. Headquartered at Suzlon One Earth in Pune, India, the Group comprises Suzlon Energy Limited and its subsidiaries.

The stock has shown impressive growth, and investors should keep a close eye on this stock.  

Disclaimer: The article is for informational purposes only and not investment advice.