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17-Aug2016

Suzlon surges on bagging repeat order from ReNew Power

Suzlon Energy is currently trading at Rs. 16.65, up by 0.20 points or 1.22% from its previous closing of Rs. 16.45 on the BSE.

The scrip opened at Rs. 16.50 and has touched a high and low of Rs. 16.85 and Rs. 16.45 respectively. So far 965572 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 26.00 on 20-Aug-2015 and a 52 week low of Rs. 12.80 on 11-Feb-2016.

Last one week high and low of the scrip stood at Rs. 16.90 and Rs. 16.35 respectively. The current market cap of the company is Rs. 8384.24 crore.

The promoters holding in the company stood at 21.02%, while institutions and non-institutions held 22.96% and 56.03% respectively.

Suzlon Group, one of the leading renewable energy solutions providers in the world, has been issued repeat order from ReNew Power Ventures, India's leading renewable energy Independent Power Producer. The order comprises 48 units of S97 120m Hybrid Tower and 15 units of S97 90m tubular tower with a rated capacity of 2.1 MW each. The project is capable of providing power to over 70,000 households and reducing 0.28 million tonnes of CO2 emissions per annum.

Suzlon will provide a comprehensive range of services and dedicated life cycle asset management services for an initial period of 12 years. The project will be located in two sites, Elutalla and Veerbhadra sites in the Ananthpur district of Andhra Pradesh and is scheduled to be completed by March 2017.

With this order, Suzlon's portfolio with ReNew Power would exceed 500 MW (510.30 MW) spanning across the states of Gujarat, Rajasthan, Maharashtra, Madhya Pradesh and Andhra Pradesh.


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