Suzlon Energy gains after winning new order

The announcement was made before trading hours today, 4 Jun 2013.

Meanwhile, the S&P BSE Sensex was up 79.26 points, or 0.40%, to 19,689.74.

On BSE, 25.88 lakh shares were traded in the counter as against an average daily volume of 30.74 lakh shares in the past one quarter.

The stock hit a low of Rs 10.40 so far during the day, which is a record low for the counter. The stock hit a high of Rs 11.04 so far during the day. The stock had hit a 52-week high of Rs 26.90 on 6 February 2013.

The stock had underperformed the market over the past one month till 3 June 2013, sliding 25.39% compared with the Sensex's 0.18% rise. The scrip had also underperformed the market in past one quarter, falling 44.17% as against Sensex's 3.66% rise.

The small-cap company has an equity capital of Rs 418.32 crore. Face value per share is Rs 2.

Suzlon Energy said that the wind farms will generate a total output of more than 26 megawatts (MW). The first machines will be delivered for fall 2013 and the commissioning is planned for winter 2013/14. REpower will also provide the full maintenance of the wind farms for 15 years, Suzlon said.

Shares of Suzlon Energy slumped 18.87% in the preceding two trading sessions to Rs 10.58 on 3 June 2013, from Rs 13.04 on 30 May 2013, after the company after market hours on 30 May 2013, reported that its net loss widened in Q4 March 2013. The stock had tumbled 9.89% to settle at Rs 11.75 on Friday, 31 May 2013.

Suzlon Energy reported consolidated net loss of Rs 1912.72 crore in Q4 March 2013, higher than a net loss of Rs 300.24 crore in Q4 March 2012. Net sales declined 36.1% to Rs 4280.53 crore in Q4 March 2013 over Q4 March 2012.

The Suzlon Group is ranked as the world's fifth largest wind turbine supplier, in terms of cumulative installed capacity and marketshare, at the end of 2012.

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