Suzlon Energy's shares have been on a consistent upward trajectory, hitting the upper circuit on three occasions in the past week. On Wednesday, the shares soared to Rs 39.20 apiece, reflecting a 4.69% increase. Earlier this week, on Monday, they had closed at Rs 35.95 apiece, up by 4.96%, and last week on Wednesday, they were traded at Rs 34.25 apiece after a 4.90% rise.
Over the past three months, Suzlon's share price has doubled, yielding returns of 110.31%. Remarkably, the company has provided multibagger returns of 357.71% over six months and enhanced investors' wealth by 265.49% year-to-date (YTD). Over the last year and three years, it has delivered substantial returns of 378.97% and 1340.44%, respectively.
Suzlon Energy is among 14 small-cap firms that are likely to be upgraded to midcap rank in the Association of Mutual Funds in India's (AMFI) semi-annual stock classification. If Suzlon gets included in the MSCI India Standard Index following the MSCI semi-annual index review on November 14, it could potentially trigger an inflow of $195 million from passive funds. The changes resulting from this review would take effect from December 1.
InvestingPro Insights
An analysis from InvestingPro offers some additional perspectives on Suzlon Energy's current market position. According to InvestingPro's real-time data, Suzlon Energy's stock is currently in overbought territory, as indicated by the Relative Strength Index (RSI). This might suggest that the stock may be due for a price correction in the near future.
InvestingPro Tips also highlight that Suzlon has seen a significant return over the last week, aligning with the upward trajectory mentioned in the article. The company is also noted as a prominent player in the Electrical Equipment industry, which could add to its appeal for investors keen on this sector.
On the financial front, Suzlon is trading at a high earnings multiple and its revenue has been declining at an accelerating rate. This could be a point of concern for potential investors. However, the company operates with a moderate level of debt and its liquid assets exceed short-term obligations, indicating a sound financial health.
Remember, these are just two of the many valuable insights available on InvestingPro. For a more comprehensive understanding of Suzlon Energy's position, consider exploring the full range of InvestingPro Tips.
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