Suzlon Energy rose 2.13% to Rs 16.80 at 10:00 IST on BSE after the company said that ReNew Power Ventures issued 132 megawatts repeat turnkey order on the company.
The announcement was made during market hours today, 17 August 2016.Meanwhile, the S&P BSE Sensex was up 23.77 points, or 0.08%, to 28,088.38.
On BSE, so far 4.78 lakh shares were traded in the counter, compared with an average daily volume of 51.98 lakh shares in the past one quarter. The stock hit a high of Rs 16.85 and a low of Rs 16.45 so far during the day. The stock hit a 52-week high of Rs 26 on 20 August 2015. The stock 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 16 August 2016, falling 9.37% compared with 0.82% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 10.33% as against the Sensex's 9.4% rise.
The mid-cap company has equity capital of Rs 1004.10 crore. Face value per share is Rs 2.
Suzlon Energy said that ReNew Power Ventures, a renewable energy independent power producer issued order for 48 units of hybrid towers and 15 units of tubular towers with a rated capacity of 2.1 megawatts (MW) each. The project is to be commissioned in Andhra Pradesh by March 2017. The project is capable of providing power to over 70,000 households and reducing 0.28 million tonnes of carbon dioxide emissions per annum. Suzlon will provide comprehensive range of services and dedicated life cycle asset management services for an initial period of 12 years. With this order, Suzlon's portfolio with ReNew Power would exceed 500 MW. ReNew Power is one of the leading customers of 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.
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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