Suzlon surges on REpower profits

DALAL STREET SPIKES

Suzlon rose nearly 3.15 per cent to Rs 1,039.2 on volumes of over 3.9 lakh as Germany's third-largest wind power major REpower, the target of an ongoing acquisition bid reported a turnaround in its financials for 2006.

The market has since early February generally given a thumbs down to the news of Suzlon eyeing the german major and the scrip has tumbled from Rs 1,245 in 9 February to Rs 985 on 20 February.

It has since then shown a mild recovery . Repower reported a profit for 2006, as a rejig plan took effect. While its earnings were at 12.2 million euros as compared to a loss of 4.3 million euros in 2005.