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Suzlon Energy gains as S9X turbines cross 1 GW in global orders

Capital Market / 14:21 , Feb 01, 2012

Suzlon Energy rose 3.21% to Rs 28.90 at 14:19 IST on BSE after the company said its S9X suite of wind turbines has surpassed 1 gigawatt in global orders.

The company made this announcement after market hours on Tuesday, 31 January 2012.

Meanwhile, the BSE Sensex was up 16.99 points, or 0.1% to 17,210.54.

On BSE, 60.75 lakh shares were traded in the counter as against average daily volume of 54.59 lakh shares in the past one quarter.

The stock hit a high of Rs 29.10 and a low of Rs 27.65 so far during the day. The stock had hit a record low of Rs 17.25 on 2 January 2012. The stock had hit a 52-week high of Rs 58.45 on 21 April 2011.

The stock had outperformed the market over the past one month till 31 January 2012, surging 55.56% compared with Sensex's 11.25% return. The scrip had, however, underperformed the market over the past one quarter, declining 27.46% as against Sensex's 2.89% fall.

The mid-cap wind turbine maker has equity capital of Rs 355.47 crore. Face value per share is Rs 2.

Suzlon Energy said the S9X suite of wind turbines was launched in April 2011 and has since received strong acceptance from all customer groups across key markets including India, US, Canada, Australia and Brazil. Customers who have already placed major orders for S9X turbines include Mytrah Energy, CLP India, Orient Green Power, Coromandel Wind Energy and Sprott Energy among others, Suzlon said in a statement. Certified by leading testing and certification agency Germanischer Lloyd, S9X turbines are already operational in India, Australia and US and delivering uptime levels above the industry standard, Suzlon said.

Commenting on the milestone, Mr Tulsi Tanti, Chairman, Suzlon Group said, This milestone stands testament to our established track record of providing robust, reliable and cost effective wind power solutions to our customers. The S9X suite is an evolution of our proven, reliable S88 platform and extends our competitive edge in high growth markets.

On a consolidated basis, Suzlon Energy reported a net profit of Rs 48 crore in Q2 September 2011, compared with a net loss of Rs 369.23 crore in Q2 September 2010. Net sales rose 34.5% to Rs 5071.10 crore in Q2 September 2011 over Q2 September 2010.

The Suzlon Group is ranked as the world's fifth largest wind turbine supplier, in terms of cumulative installed capacity, at the end of 2010. The company's global spread extends across Asia, Australia, Europe, Africa and North and South America with over 18,000 MW of wind energy capacity installed in 28 countries, operations across 32 countries and a workforce of over 13,000.

 



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