The company made the announcement during market hours 4 November 2008.Meanwhile, the BSE Sensex was up 254.25 points, or 2.62%, to 9989.05.On BSE, 2.12 crore shares were traded in the counter. The scrip had an average daily volume of 38.06 lakh shares in the past one quarter.The stock hit a high of Rs 70 and a low of Rs 59.05 so far during the day. The stock had a 52-week high of Rs 460 on 9 January 2008 and a 52-week low of Rs 42 on 27 October 2008.
The stock is up 54.55% from a recent low of Rs 44.45 on 31 October 2008.The stock had underperformed the market over the past one month till 6 November 2008, declining 52.71% as compared to the Sensex�s decline of 17.52%. It had also underperformed the market in the past one quarter, falling 75.11% as compared to the Sensex�s decline of 35.42%.
The world's sixth largest supplier of wind turbines by sales has an equity capital of Rs 299.65 crore. Face value per share is Rs 2.
The current price of Rs 68.70 discounts its Q2 September 2008 annualised EPS of Rs 0.45, by a PE multiple of 152.66.
A successful acquisition of Portugal-based Martifer's 22.48% stake will raise Suzlon's stake in German firm REpower to 90%.
Suzlon had earlier suspended a Rs 1800 crore rights issue which was intended to help fund the REpower deal. As per recent reports, Suzlon may sell as much 5% - 8% to private equity groups to raise some funding, raising investor hopes the deal would be completed.
Suzlon Energy�s net profit declined 95.2% to Rs 16.98 crore on a 31.9% growth in sales to Rs 2226.25 crore in Q2 September 2008 over Q2 September 2007. The sharp slide in net profit was due to a large Rs 163.82-crore provision for foreign exchange loss in Q2 September 2008.
Suzlon Energy provides customers with total wind power solutions.
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