Suzlon Energy declines on profit taking

Suzlon Energy lost 1.26% to Rs 23.50 at 12:27 IST on BSE, with the stock sliding on profit booking after Wednesday's 10% rally.

Meanwhile, the S&P BSE Sensex was down 75.99 points or 0.28% at 26,981.42.

On BSE, so far 17.76 lakh shares were traded in the counter as against average daily volume of 25.20 lakh shares in the past one quarter.

The stock hit a high of Rs 24.40 and a low of Rs 23.15 so far during the day. The stock had hit a 52-week low of Rs 6.25 on 10 September 2013. The stock had hit a 52-week high of Rs 36.80 on 12 June 2014.

The stock had underperformed the market over the past one month till 10 September 2014, advancing 1.71% compared with Sensex's 6.82% rise. The scrip had also underperformed the market in past one quarter, declining 30.91% as against Sensex's 5.76% rise.

The mid-cap wind turbine manufacturer has equity capital of Rs 611.02 crore. Face value per share is Rs 2.

Shares of Suzlon Energy had surged by the maximum permissible level of 10% to settle at Rs 23.80 on Wednesday, 10 September 2014.

Suzlon Energy reported a consolidated net loss of Rs 750.74 crore in Q1 June 2014, lower than net loss of Rs 1058.90 crore in Q1 June 2013. Net sales rose 20.6% to Rs 4643.01 crore in Q1 June 2014 over Q1 June 2013.

The Suzlon Group is ranked as the world's fifth largest wind turbine supplier, in terms of cumulative installed capacity and market share, at the end of 2013. The company's global spread extends across Asia, Australia, Europe, Africa and North and South America with over 24,000 MW of wind energy capacity installed, operations across over 31 countries and a workforce of over 10,000. The Group -headquartered at Suzlon One Earth in Pune, India -comprises Suzlon Energy and its subsidiaries, including Senvion SE.

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