Things are looking bright for Suzlon. Has an order book position of Rs 16,328.04 crore comprising of Rs 1988.88 crore of domestic orders and Rs 14,339.16 crore of export orders. The board of Suzlon Energy approved for the stock split of 5-for-1.
Suzlon Wind Energy Corporation, the US based step down wholly owned subsidiary of the company signed a contract for a 400 mega watt (MW) of wind turbine capacity with Horizon Wind of Houston, Texas, one of the largest wind power developers in the United States.
On 3 October 2007, the company secured a major order from DLF for setting up of a wind farm of 150 MW wind turbine capacity in the State of Gujarat.
Suzlon Energy’s net profit rose 40.27% to Rs 355.58 crore on 31.27% growth in sales to Rs 1687.46 crore in Q2 September 2007 over Q2 September 2006. The result was announced during the trading hours today, 23 October 2007.
The stock corrected from 1800 levels to 1500-1518 levels. It bounced with a gap up and many missed the chance of re-entering this stock. At current levels it looks overbought. Buy with a stoploss of 1800 or on dips with a much lower stoploss of 1560.
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