Suzlon Energy gains on winning repeat order

Suzlon Energy rose 1.55% to Rs 19.65 at 9:24 IST on BSE after the company said it has won a repeat order of 50.40 megawatts wind power project in Karnataka.

The announcement was made after market hours yesterday, 10 April 2017.

Meanwhile, the S&P BSE Sensex was up 56.22 points, or 0.19% to 29,631.96.

On the BSE, 16.84 lakh shares were traded in the counter so far, compared with average daily volumes of 80.92 lakh shares in the past one quarter. The stock had hit a high of Rs 19.80 and a low of Rs 19.55 so far during the day.

The stock hit a 52-week high of Rs 19.85 on 31 March 2017. The stock hit a 52-week low of Rs 12.47 on 9 November 2016.

The stock had outperformed the market over the past one month till 10 April 2017, rising 12.83% compared with 2.17% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 29.43% as against Sensex's 9.95% rise.

The mid-cap company has equity capital of Rs 1,004.88 crore. Face value per share is Rs 2.

Suzlon Energy said it has won a repeat order of 50.40 megawatts (MW) wind power project in Karnataka from a leading independent power producer (IPP) company. The project will be completed by June 2017. Suzlon will execute the entire project on a turnkey basis and will also provide operation and maintenance services.

On a consolidated basis, Suzlon Energy reported net profit of Rs 274.34 crore in Q3 December 2016 compared with net loss of Rs 121.84 crore in Q3 December 2015. Net sales rose 75.68% to Rs 3307.48 crore in Q3 December 2016 over in Q3 December 2015.

The Suzlon Group is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries in Asia, Australia, Europe, Africa and North and South America.

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