Suzlon Energy rallies on ambitious capex plan
Suzlon Energy advanced 2.58% to Rs 1,349.55, on chalking out a two-year expansion schedule worth Rs 1,500 crore.
The counter clocked 87,739 shares on BSE.The stock has witnessed a steady correction in the past few sessions, from Rs 1,364.40 on 26 October 2006 to Rs 1,315.65 by 6 November 2006 under selling pressure.
As part of its expansion time-table, Suzlon Energy will set up a 1,500-Mw wind turbine factory in Karnataka, while expanding its existing unit in Baroda simulataneously. The capital expenditure will be funded through internal accruals and debt.
Suzlon Energy currently has over 30 wind farms located across eight states.Suzlon is constructing a wind resource study in West Bengal, Orissa, Chhattisgarh and Bihar. The company's rotor blade unit in Minnesota, USA, and its factory in Tianjin, China, started operations this year.
Recently, Suzlon’s unit bagged a Chinese order for a 50 Megawatt wind-turbine. The company values its order-book at Rs 6,638 crore, comprising Rs 5,813.71 crore contracts from overseas and Rs 824.16 crore contracts in India.
In March 2006, Suzlon bought Belgium-based wind energy and industrial gearbox maker Hansen Transmissions International NV for $596 million. The capacity of the Hansen unit has to be raised from 3,200 Mw to 5,800 Mw at a cost of Rs 800 crore.
Suzlon Energy reported a consolidated net profit of Rs 235.37 crore for the Q2 ended 30 September 2006, against Rs 207.68 crore in Q2 September 2005, a growth of 13.3%. Total income surged 85.4% to Rs 2,095.63 crore, from Rs 1,129.89 crore.
The counter clocked 87,739 shares on BSE.The stock has witnessed a steady correction in the past few sessions, from Rs 1,364.40 on 26 October 2006 to Rs 1,315.65 by 6 November 2006 under selling pressure.
As part of its expansion time-table, Suzlon Energy will set up a 1,500-Mw wind turbine factory in Karnataka, while expanding its existing unit in Baroda simulataneously. The capital expenditure will be funded through internal accruals and debt.
Suzlon Energy currently has over 30 wind farms located across eight states.Suzlon is constructing a wind resource study in West Bengal, Orissa, Chhattisgarh and Bihar. The company's rotor blade unit in Minnesota, USA, and its factory in Tianjin, China, started operations this year.
Recently, Suzlon’s unit bagged a Chinese order for a 50 Megawatt wind-turbine. The company values its order-book at Rs 6,638 crore, comprising Rs 5,813.71 crore contracts from overseas and Rs 824.16 crore contracts in India.
In March 2006, Suzlon bought Belgium-based wind energy and industrial gearbox maker Hansen Transmissions International NV for $596 million. The capacity of the Hansen unit has to be raised from 3,200 Mw to 5,800 Mw at a cost of Rs 800 crore.
Suzlon Energy reported a consolidated net profit of Rs 235.37 crore for the Q2 ended 30 September 2006, against Rs 207.68 crore in Q2 September 2005, a growth of 13.3%. Total income surged 85.4% to Rs 2,095.63 crore, from Rs 1,129.89 crore.
posted by SY at 5:42 PM
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