Suzlon Energy rose 2.39% to Rs 17.15 at 12:16 IST on BSE after the company announced the completion and commissioning of the 4.20 megawatt maiden wind project for Ahmedabad Municipal Corporation.
The announcement was made on Saturday, 25 June 2016.Meanwhile, the S&P BSE Sensex was up 16.22 points or 0.06% at 26,407.48
On BSE, so far 17.32 lakh shares were traded in the counter as against average daily volume of 64.61 lakh shares in the past one quarter. The stock hit a high of Rs 17.15 and a low of Rs 16.80 so far during the day. The stock had hit a 52-week high of Rs 28 on 6 August 2015. The stock had hit a 52-week low of Rs 12.80 on 12 February 2016. The stock had outperformed the market over the past 30 days till 24 June 2016, rising 9.12% compared with 0.12% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 24.63% as against Sensex's 4.18% rise.
The mid-cap company has equity capital of Rs 1004.10 crore. Face value per share is Rs 2.
Suzlon Group announced the completion and commissioning of the 4.20 megawatts (MW) maiden wind project for Ahmedabad Municipal Corporation (AMC). The wind energy project, located at Nakhatrana, Kutch comprises of 2 units of Suzlon's newest product variant, S97 120 meter hybrid tower wind turbine. It will help in offsetting 9,000 tonnes CO2 emissions annually.S97 120 meter is the world's tallest all-steel hybrid tower which ensures 12%-15% higher energy yield and further enables viability of sub-optimal wind sites. It achieved best in industry class plant load factor (PLF) of 35% for a period of 12 months from the launch in November 2014.As of March 2016, Gujarat's total wind installations stood at about 4,038 MW, out of which 1,842 MW has been contributed by Suzlon.
On consolidated basis, Suzlon Energy reported net loss of Rs 270.55 crore in Q4 March 2016, lower than net loss of Rs 1212.06 crore in Q4 March 2015. Net sales declined 33.9% to Rs 3244.93 crore in Q4 March 2016 over Q4 March 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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