Suzlon Energy corrects on profit booking

Suzlon Energy fell 4.92% to Rs 21.25 at 15:18 IST on BSE on profit booking after the stock rose 12.59% in the preceding five trading sessions to Rs 22.35 yesterday, 14 September 2015, from a recent low of Rs 19.85 on 7 September 2015.

Meanwhile, the BSE Sensex was down 139.87 points, or 0.54%, to 25,716.83.

On BSE, so far 29.15 lakh shares were traded in the counter, compared with an average volume of 73.43 lakh shares in the past one quarter.

The stock hit a high of Rs 22.40 and a low of Rs 21.20 so far during the day. The stock hit a 52-week high of Rs 31.35 on 19 March 2015. The stock hit a 52-week low of Rs 10.89 on 22 October 2014.

The stock had underperformed the market over the past one month till 14 September 2015, sliding 8.96% compared with 7.88% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 2.52% as against Sensex's 2.15% decline.

The large-cap company has an equity capital of Rs 1034.61 crore. Face value per share is Rs 2.

On a consolidated basis, Suzlon Energy reported net profit of Rs 1047.41 crore in Q1 June 2015 as against net loss of Rs 750.74 crore in Q1 June 2014. Net sales declined 43.88% to Rs 2605.81 crore in Q1 June 2015 over Q1 June 2014.

The Suzlon Group is a leading wind turbine manufacturer in India having a global presence with spread extending across Asia, Australia, Europe, Africa and North and South America.

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