Suzlon Energy was locked at 5% upper circuit at Rs 31.30 at 12:45 IST on BSE, with the stock extending Thursday's 5% rally triggered by the company securing an order from ReNew Wind Power, India's leading IPP in the wind energy sector.
Meanwhile, the S&P BSE Sensex was up 168.81 points or 0.67% at 25,188.32.
On BSE, so far 94.39 lakh shares were traded in the counter as against average daily volume of 94.04 lakh shares in the past two weeks.
The stock's current price of Rs 31.30 is also its 52-week high for the counter. The stock hit a low of Rs 30.25 so far during the day.
Shares of Suzlon Energy have rallied 10.01% in two trading sessions from Rs 28.45 on 4 June 2014 after the company during market hours on Thursday, 5 June 2014 said it has been awarded a 100.8 megawatts (MW) order by ReNew Wind Power, India's leading IPP in the wind energy sector. The stock had surged by the maximum permissible level of 5% to settle at Rs 29.85 on Thursday, 5 June 2014.
The project is scheduled for execution at the Bhesada wind site, Dist Jaisalmer, Rajasthan, Suzlon said in a statement.
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As per the agreement, the Group will not only supply 48 units of its robust S97-120m WTGs but will also oversee operations, maintenance and service of the wind site over the contracted period, Suzlon said in a statement.
ReNew Wind Power Projects in Gujarat & Maharashtra are powered by Suzlon turbines. ReNew Wind Power currently deploys Suzlon WTGs for 100+ MW at their wind farms in Gujarat & Maharashtra and this will be the third successful order placed with Suzlon Group, the company said. This repeat order demonstrates the confidence its customers have with Suzlon's products and service capabilities, Suzlon said in a statement.
Suzlon Energy reported a consolidated net loss of Rs 603.45 crore in Q4 March 2014, lower than net loss of Rs 1912.72 crore in Q4 March 2013. Net sales rose 53.7% to Rs 6580.96 crore in Q4 March 2014 over Q4 March 2013.
The Suzlon Group is ranked as the world's fifth largest wind turbine supplier, in terms of cumulative installed capacity and market share, at the end of 2013. The company's global spread extends across Asia, Australia, Europe, Africa and North and South America with over 24,000 MW of wind energy capacity installed, operations across over 31 countries and a workforce of over 10,000. The Group -headquartered at Suzlon One Earth in Pune, India -comprises Suzlon Energy and its subsidiaries, including Senvion SE.
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