Suzlon shares up by 9.07 percent


Suzlon shares up by 9.07 percent
Bangalore: Suzlon Energy (SUZLON) ended up as one of the top gainers of the day, when its share jumped by Rs 9.70 (9.07 percent) to end at Rs 116.70. When the markets opened, Suzlon's share moved to Rs 108 from Rs 107 (previous close). During the day the stock hit a high of Rs 117.05 and a low of Rs 107.05 with 23,777,041 shares traded through the day. The P/E ratio of the stock is 33.76 with a 52 week high of Rs 252.80 and a low of Rs 33.05. The stock price chart is given on the left. Suzlon Energy Limited engages in the manufacture and sale of wind turbine generators of various capacities and its components. It develops wind turbine generators of capacities ranging from 350 kilowatt to 2.1 megawatt. The company has ranked as the leading wind turbine manufacturer in the Indian market for nine consecutive years, maintaining over 50 percent market share. It currently has a combined manufacturing base of 4,200 MW of annual capacity. The company reported consolidated revenues of Rs 3170 crores in Q3 FY08, a 66 percent growth over corresponding period of the previous year. Suzlon announced the completion of the acquisition of Martifer Group's stake in REpower Systems AG on Friday, 5th June 2009. The purchase of Martifer's stake in REpower by Suzlon was agreed in February 2007 at the time of launch of the joint bid by Suzlon and Martifer. With the conclusion of this transaction, Suzlon holds 90.72 percent stake in REpower. Out of 22 analysts following Suzlon Energy, consensus recommendation is hold, while six recommended to buy, four suggested the stock as outperform, three of them asked to sell the share. Other related companies have also ended the day on positive node. NEPC India gained by 3.64 percent, Shriram EPC also maintained the gain momentum with a gain of 3.50 percent and Nordex AG moved up by 5.30 percent.