Suzlon gains after installing 350 MW wind energy capacity in Brazil

Suzlon Energy gained 3.56% to Rs 26.15 at 13:50 IST on BSE after the company announced that it has successfully completed installing and commissioning of over 350 megawatts wind energy in Brazil.

The company made announcement during market hours today, 24 February 2015.

Meanwhile, the S&P BSE Sensex was up 99.61 points or 0.34% at 29,074.72.

On BSE, so far 1.53 crore shares were traded in the counter as against average daily volume of 1.11 crore shares in the past two weeks.

The stock hit a high of Rs 27.10 and a low of Rs 25.85 so far during the day. The stock had hit a 52-week high of Rs 36.80 on 12 June 2014. The stock had hit a 52-week low of Rs 9.50 on 27 March 2014.

The stock had outperformed the market over the past one month till 21 February 2015, jumping 69.92% compared with 1.04% fall in the Sensex. The scrip had also outperformed the market in past one quarter, surging 77.19% as against Sensex's 2.26% rise.

The mid-cap wind power solutions provider has equity capital of Rs 740.63 crore. Face value per share is Rs 2.

Suzlon Energy announced that it has successfully completed installing and commissioning of over 350 megawatts wind energy in Brazil over a period of 16 months ending November 2014 with a bulk of 300 megawatts (MW) added in Calendar 2014. The combined capacity includes projects located in the high wind states of Rio Grande do Norte & Ceara in Brazil. The installations comprise of 150 WTGs (wind turbine generators) of Suzlon's proven 59Xproduct series and 18 WTGs of Suzlon work horse of 588, both with a rated capacity of 2.1 MW. The 350 MW projects completed will light up 0.1 million households in Brazil with clean energy, curbing 0.54 million tonnes of CO2 emissions every year.

Suzlon Energy reported consolidated net loss of Rs 6538.68 crore in Q3 December 2014 compared with consolidated net loss of Rs 1075.25 crore in Q3 December 2013. Total income fell 2.2% to Rs 4986.56 crore in Q3 December 2014 over Q3 December 2013.

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