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Suzlon Energy gets energized after workers lift lockout of unit

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gained 1.89% to Rs 14.04 at 9:45 on after the company announced lifting up of lockout at its Padubidri Rotor blade manufacturing unit after arriving at an amicable solution with the workers.

The announcement was made after market hours yesterday, 7 December 2017.

On 15 November 2017, the company had said that its workers staged dharna after rotor blade unit declared lockout.

Meanwhile, the S&P Sensex was up 202.93 points, or 0.6% at 33,152.14. The S&P Mid-Cap index was up 132.85 points, or 0.79% at 17,026.46, outperforming the Sensex.

On the BSE, 8.15 lakh shares were traded on the counter so far as against the average daily volumes of 51.72 lakh shares in the past one quarter. The stock had hit a high of Rs 14.13 and a low of Rs 13.99 so far during the day. The stock had hit a 52-week high of Rs 22.25 on 22 May 2017 and hit a 52-week low of Rs 12.80 on 16 November 2017.

The stock had underperformed the market over the past one month till 7 December 2017, falling 11.38% compared with the Sensex's 1.26% drop. The stock had also underperformed the market over the past one quarter, dropping 15.46% as against the Sensex's 4.06% rise. The scrip had also underperformed the market over the past one year, declining 5.23% as against the Sensex's 25.58% rise.

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

Suzlon Energy's consolidated net profit fell 72.1% to Rs 68.1 crore on 56.6% decline in net sales to Rs 1187.02 crore in Q2 September 2017 over Q2 September 2016.

The Suzlon Group is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries in Asia, Australia, Europe, Africa and North and South America.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, December 08 2017. 10:16 IST