Suzlon on northward trajectory after winning order

Suzlon Energy was up 1.54% to Rs 11.19 at 12:15 IST on BSE after the company announced its order win for development of 75 megawatts wind power project in Maharashtra.

The announcement was made during market hours today, 12 March 2018.

Meanwhile, the S&P BSE Sensex was up 307.90 points or 0.92% at 33,615.04. The S&P BSE Mid-Cap index fell 0.07%, underperforming the Sensex.

On the BSE, 30.52 lakh shares were traded on the counter so far as against average daily volumes of 55.86 lakh shares in the past one quarter. The stock had hit a high of Rs 11.39 and a low of Rs 11.06 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 2016.

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

Suzlon announced its order win for development of 75 megawatts (MW) wind power project from a leading independent power producer (IPP) through Maharashtra State Electricity Distribution Company (MSEDCL) bid. Suzlon will install around 36 units of S111-140m wind turbine generators (WTGs) with rated capacity of 2.1 MW each. The project will be located in Maharashtra and will be commissioned as per MSEDCL bid guidelines.

Suzlon will execute the entire project on a turnkey basis and will also provide comprehensive operation and maintenance services for the complete project lifecycle.

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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