The announcement was made during trading hours today, 7 December 2009.
Meanwhile, the BSE Sensex was down 35.99 points, or 0.21%, to 17,065.55.
On BSE, 95.67 lakh shares were traded in the counter as against an average daily volume of 1.35 crore shares in the past one quarter.
The stock hit a high of Rs 83.60 and a low of Rs 79.40 so far during the day. The stock had hit a 52-week high of Rs 145.85 on 5 June 2009 and a 52-week low of Rs 33.05 on 12 March 2009.
The stock had outperformed the market over the past one month till 4 December 2009, soaring 43.79% as compared to the Sensex's 7.47% rise. It underperformed the market in past one quarter, falling 20.82% as against 9% increase in the Sensex.
The large-cap wind turbine maker has an equity capital of Rs 311.34 crore. Face value per share is Rs 2.
The turbines, with rated power of 2.05 megawatt (MW) each, are slated for delivery in 2011 for a wind farm project in the US. Suzlon Energy holds 91% stake in Germany-based REpower.
In November, REpower Systems AG had signed a set of wind farm project contracts with EDF Energies Nouvelles and RES Canada for delivery of up to 954 megawatt for five projects in Canada.
In the same month, Suzlon's Australian arm, Suzlon Energy Australia Pty, signed a pact with Infigen Energy for supplying wind turbine generators. As per the agreement, Suzlon Energy Australia will supply 20 units of 2.1 MW wind turbine generators (WTGs) to Infigen Energy. These WTGs will be installed at one of the wind farms in Infigen's pipeline for its future projects. Financial details were not mentioned.
Suzlon's US unit had on 16 November 2009 secured a 20 megawatt order. Suzlon Wind Energy Corporation, the US step-down wholly owned subsidiary of Suzlon Energy, had received a new order for the community-based Grant County Wind Farm in Southwestern Minnesota, US. The project consists of 10 Suzlon S88 2.1 MW wind turbines. The wind farm is expected to be in commercial operation in the first quarter of 2010.
Recently, Suzlon Energy sold a 35% stake in a subsidiary, Hansen Transmissions, for $370 million, or about Rs 1,720 crore, as part of its efforts to reduce debt. Post stake sale, Suzlon's shareholding in Hansen declined to 26% from 61%. This is the second divestment of Suzlon's stake in Hansen this year, with the firm selling 10% in January this year to the London-based investment firm Ecofin. Suzlon had bought the Belgium-based Hansen in 2006 for $565 million (about Rs 2,656 crore).
Suzlon Energy reported a net loss of Rs 184.91 crore in Q2 September 2009 compared with a net profit of Rs 16.98 crore in Q2 September 2008. Net sales fell 72.3% to Rs 616.02 crore in Q2 September 2009 over Q2 September 2008.
Suzlon's profit were hurt as the company got fewer orders this year because major economies are struggling with last year's financial crisis. Suzlon said its order book stood at 1,488 MW, with 1,365 MW in international orders and 123 MW in domestic orders.
For the current fiscal year that end on March 2010, the company revised its full year guidance to a range of 1,900 MW to 2,100 MW.
Suzlon Energy's order book as on 30 October 2009 stood at Rs 8,285 crore, which is 1.15 times its sales of Rs 7235.58 crore for the year ended March 2009, giving strong revenue visibility.
Suzlon Energy designs, manufactures, operates, and maintains wind generating equipment. The company constructs large wind parks.
Promoters have pledged 35.76 crore shares representing 22.97% of the equity capital of the company. Total promoters shareholding in the company is 53.08% (as on September 2009).
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