Suzlon Energy drops on profit taking

Suzlon Energy lost 1.59% to Rs 11.17 at 15:14 IST on BSE, with the stock sliding on profit booking after recent steep rally.

Meanwhile, the S&P BSE Sensex was down 48.30 points or 0.21% at 22,503.19.

On BSE, so far 13.36 lakh shares were traded in the counter as against average daily volume of 14.34 lakh shares in the past one quarter.

The stock was volatile. The stock lost as much as 2.73% at the day's low of Rs 11.04 so far during the day. The stock rose as much as 2.2% at the day's high of Rs 11.60 so far during the day. The stock had hit a record low of Rs 5.72 on 28 August 2013. The stock had hit a 52-week high of Rs 15.10 on 22 April 2013.

The stock had outperformed the market over the past one month till 2 April 2014, surging 12.71% compared with the Sensex's 6.78% rise. The scrip had, however, underperformed the market in past one quarter, jumping 7.69% as against Sensex's 7.96% rise.

The small-cap wind turbine manufacturer has equity capital of Rs 497.63 crore. Face value per share is Rs 2.

Shares of Suzlon Energy had rallied 17.98% in four trading sessions to settle at Rs 11.35 on Wednesday, 2 April 2014, from a recent low of Rs 9.62 on 27 March 2014.

Suzlon Energy during trading hours on Wednesday, 2 April 2014 said it has successfully acquired Big Sky wind park from Edison Mission Energy through the company's fully owned US based subsidiary SWECO. The wind park consisting of 114 S88 turbines located in Illinois is Suzlon Group's biggest wind park in the US and one of the best performing installations in the country, Suzlon said in a statement.

Suzlon Energy reported a consolidated net loss of Rs 1075.25 crore in Q3 December 2013, lower than net loss of Rs 1154.53 crore in Q3 December 2012. Net sales rose 24.8% to Rs 5009.82 crore in Q3 December 2013 over Q3 December 2012.

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 2012. The company's global spread extends across Asia, Australia, Europe, Africa and North and South America with over 23,000 MW of wind energy capacity installed, operations across over 30 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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