Suzlon Energy surges on securing GSPL order

Suzlon Energy has surged over 5% to Rs 78, after the company secured an order from Gujarat State Petronet Limited to set up a 52.5 megawatt wind energy project in Rajkot and Porbandar districts of Gujarat.

The stock opened at Rs 75 and is currently trading at day's high level on the BSE. The trading volume has nearly doubled, with 8.84 million equity shares changing hands so far, as compared to an average 5.09 million shares traded daily in last two weeks.

The project will be supplied in 35 units of Suzlon's model S82 – 1.5 MW wind turbine generators, and is scheduled to be completed and commissioned by July 2010.

The company engaged in designs, manufactures, operates, and maintains wind-generating equipment, has reported a net loss of Rs 631 crore in first nine months of FY10 as compared to Rs 286 crore net loss reported in same period of previous fiscal FY09.