Tuesday, October 23, 2007

Good result, stock split power Suzlon Energy

Suzlon Energy surged 13% to Rs 1,791.05 at 11:32 IST after reporting 40.27% rise in net profit in Q2 September 2007 over Q2 September 2006.

Suzlon Energy’s net profit rose 40.27% to Rs 355.58 crore on 32.39% rise in total income to Rs 1,718.73 crore in Q2 September 2007 over Q2 September 2006. The company made this announcement during the market hours today, 23 October 2007.

The company also said that board of directors has proposed stock split of face value of Rs 10 to face value of Rs 2.The company’s order book position stands at Rs 16,328.04 crore comprising of Rs 1988.88 crore of domestic orders and Rs 14,339.16 crore of export orders.

Also company's wholly owned subsidiary Hansen Transmissions International NV, Belgium, a leading global gearbox and drive train designer, manufacturer and supplier to the wind turbine and other selected industries, is contemplating a possible offering of shares to institutional investors and subsequently a possible listing of shares on the London Stock Exchange.

Suzlon's board also approved issuance of equity shares/foreign currency convertible bonds/global depository receipts/American depository receipts/any other financial instruments convertible into or linked to equity shares to an extent of Rs 5000 crore.

Suzlon Energy provides customers with total wind power solutions.



Post a Comment

<< Home