Suzlon Energy jumps after securing new order

Suzlon Energy rose 3.23% to Rs 22.40 at 9:59 IST on BSE after the company said it has won a repeat turnkey order from Orange Renewable, an independent power producer for 100.8 megawatts to be installed at Beluguppa in Andhra Pradesh.

The company made the announcement during market hours today, 6 October 2015.

Meanwhile, the S&P BSE Sensex was up 108.57 points or 0.41% at 26,894.12.

On BSE, so far 24.37 lakh shares were traded in the counter as against average daily volume of 39.28 lakh shares in the past two weeks.

The stock hit a high of Rs 22.75 and a low of Rs 22.05 so far during the day. The stock had hit a 52-week high of Rs 31.35 on 19 March 2015. The stock had hit a 52-week low of Rs 10.89 on 22 October 2014.

Suzlon Energy said it will offer operation and maintenance service for an initial period of 12 years through an integrated service package for the latest contract. The project will be commissioned starting FY 2017, Suzlon Energy said.

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 43.9% to Rs 2605.81 crore in Q1 June 2015 over Q1 June 2014.

The Suzlon Group is a leading wind turbine manufacturer in India with a global presence. Suzlon has over 8,600 megawatts (MW) of cumulative installations in India which is the largest in the country. The Group, headquartered at Suzlon One Earth in Pune comprises Suzlon Energy and its subsidiaries.

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