Suzlon rises as its subsidiary inks key purchase agreement with leading wind major

05 Mar 2012 Evaluate

Suzlon Energy is currently trading at Rs. 28.80, up by 0.05 points or 0.17% from its previous closing of Rs. 28.75 on the BSE.

The scrip opened at Rs. 28.75 and has touched a high and low of Rs. 29.60 and Rs. 28.10 respectively. So far 3570205 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 58.45 on 21-Apr-2011 and a 52 week low of Rs. 17.25 on 02-Jan-2012.

Last one week high and low of the scrip stood at Rs. 30.65 and Rs. 24.15 respectively. The current market cap of the company is Rs. 5163.25 crore.

The promoters holding in the company stood at 52.76% while Institutions and Non-Institutions held 13.38% and 33.70% respectively. 

Suzlon Group’s subsidiary - SEFORGE, has inked a key purchase agreement with a leading wind turbine manufacturer for the supply of machined tower flanges, used for wind towers, over a period of three years. The Rs 367 crore ($75 mn) contract covers supply of flanges for wind turbine towers for projects in India and international markets.

This agreement, alongside recent agreements with other tower manufacturers and a large European bearing producer, highlight SEFORGE's growing presence as an independent parts supplier to wind and related industries.

SEFORGE operates a state of the art forging facility capable of producing seamless forged rings of maximum diameter of 5.2 meters, with an annual capacity of between 40,000 to 60,000 rings at Vadodara, Gujarat.

SEFORGE has established itself as a key supplier to all major wind turbine manufacturers in India for the supply of forged rings used in wind turbine towers and bearings. Besides, the company supplies rings to major international players in the oil and gas, power and defense sectors over and above the bearing and wind turbine sectors. It also owns a foundry division, based in Coimbatore, with a modern manufacturing facility capable of producing large sizes of castings with an annual capacity of 120,000 MT of castings.

Suzlon Energy Share Price

63.87 -0.30 (-0.47%)
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