Suzlon gains after commissioning solar projects

Suzlon Energy rose 1.04% to Rs 11.61 at 9:58 IST on BSE after the company announced that it has completed the commissioning of 340 megawatts solar power turnkey projects across sites in Telangana, Rajasthan and Maharashtra.

The announcement was made during market hours today, 15 March 2018.

Meanwhile, the S&P BSE Sensex was down 39.99 points or 0.1% at 33,801.05. The S&P BSE Mid-Cap index advanced 0.76%, outperforming the Sensex.

On the BSE, 9.09 lakh shares were traded on the counter so far as against the average daily volumes of 56.78 lakh shares in the past one quarter. The stock had hit a high of Rs 11.71 and a low of Rs 11.45 so far during the day. The stock had hit a 52-week high of Rs 22.25 on 22 May 2017 a 52-week low of Rs 10.63 on 8 March 2018.

The mid-cap company has equity capital of Rs 1063.95 crore. Face value per share is Rs 2.

Suzlon Energy said that the projects of 340 megawatts (MW) have been executed over a period of time, concluding in Q4 March 2018. The company has completed delivery of its entire solar order book with the commissioning of aforesaid projects.

On a consolidated basis, Suzlon Energy reported net loss of Rs 32.68 crore in Q3 December 2017 compared with net profit of Rs 282.54 crore in Q3 December 2016. Net sales dropped 33.5% to Rs 2203.86 crore in Q3 December 2017 over Q3 December 2016.

The Suzlon Group is one of the leading renewable energy solutions providers in the world with an international presence.

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