Suzlon Energy rose 1.26% to Rs 16.05 at 11:45 Ist on BSE after the company announced that it has been awarded orders for a combined capacity of 111.30 megawatts between August and September 2016.
The announcement was made during market hours today, 23 September 2016.Meanwhile, the S&P BSE Sensex was down 11.78 points or 0.04% at 28,761.35.
On BSE, so far 18.24 lakh shares were traded in the counter as against average daily volume of 38.63 lakh shares in the past one quarter. The stock hit a high of Rs 16.30 and a low of Rs 15.80 so far during the day. The stock had hit a 52-week high of Rs 25.25 on 2 November 2015. The stock had hit a 52-week low of Rs 12.80 on 12 February 2016. The stock had underperformed the market over the past one month till 22 September 2016, falling 3.65% compared with Sensex's 2.81% gains. The scrip also underperformed the market in past one quarter, dropping 7.58% as against Sensex's 7.5% gains.
The mid-cap company has equity capital of Rs 1004.88 crore. Face value per share is Rs 2.
Suzlon Energy said that the combined capacity included orders from reputed corporate houses such as Serum Institute of India, Rajasthan Gum Group and an assortment of small & medium enterprises (SME) customers. The corporate and SME orders have been received from mixed bag of customers across diverse industry segments. Suzlon will provide the entire spectrum of turnkey solutions right from equipment supply till commissioning and also offer dedicated life cycle asset management services for a contractually defined period to these customers. The projects are spread across the key windy states of Andhra Pradesh, Gujarat, Karnataka and Tamil Nadu and are scheduled to be completed by March 2017.
On a consolidated basis, Suzlon Energy reported net loss of Rs 259.97 crore in Q1 June 2016 compared with net profit of Rs 1014.34 crore in Q1 June 2015. Net sales declined 36.2% to Rs 1649.58 crore in Q1 June 2016 over Q1 June 2015.
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The Suzlon Group is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries. The company has recently forayed into the solar space.
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