Meanwhile, the BSE Sensex was up 96.98 points, or 0.67%, to 14590.82.
On BSE, 32.90 lakh shares were traded in the counter. The scrip had an average daily volume of 1.85 crore shares in the past one quarter.
The stock hit a high of Rs 107.50 and a low of Rs 103.50 so far during the day. The stock had hit a 52-week high of Rs 252.80 on 11 August 2008 and a 52-week low of Rs 33.05 on 12 March 2009.
The stock had outperformed the market over the past one month till 29 June 2009, rising 19.92% as compared to the Sensex's 1.10% rise. It had also outperformed the market in the past one quarter, soaring 157.36% as against the Sensex rise of 47.14%.
India's largest wind turbine maker by sales has an equity capital of Rs 299.66 crore. Face value per share is Rs 2.
Shares of Suzlon shed 15.93% in the previous two consecutive sessions after reporting a loss of Rs 183.36 crore in Q4 March 2009 as against a net profit of Rs 482.55 crore in Q4 March 2008. Sales declined 25.8% to Rs 2037.07 crore in Q4 March 2009 over in Q4 March 2008.
Suzlon reported a net loss of Rs 469.27 crore in the year ended March (FY) 2009 as against a net profit of Rs 1265.71 crore in FY 2008. Sales rose 4.5% to Rs 7235.58 crore in FY 2009 over FY 2008. The results were announced before trading hours on Monday, 29 June 2009.
After the results were announced, the board of Suzlon Energy approved raising up to Rs 5000 crore through the issue of equity, debt or other instruments. The board also approved raising the investment limit by foreign funds to 49% from 24% now, it said in a notice to the stock exchange.
At the end of 25 June 2009, the company's order book position stood at Rs 7901 crore.
Early this week, some reports suggested the company may sell all or part of its stake in unit Hansen Transmissions International NV to cut some of its debt amounting to Rs 11800 crore.
The sale of the stake in the Belgian maker of wind-turbine gearboxes could fetch $1.1 billion and help Suzlon reduce debt taken over the past two years to complete the acquisition of Hamburg-based Repower Systems AG this month. Suzlon's debt was Rs 11800 crore as of 31 March 2009. Suzlon had acquired Hansen's entire shareholding in March 2006 for 465 million euros.
Suzlon had raised its holding in Repower this month by acquiring a stake in tranches from Portugal's Martifer. Suzlon made the final payment of Euro 87.6 million (Rs 600 crore) for buying Martifer's remaining stake in Germany's REpower Systems. This follows payments of the first tranche of 65 million euros in December 2008 and the second tranche of 30 million euros in April 2009.
Suzlon now has 90.72% in REpower, and is close to exercising its option to transfer REpower's technology to emerging markets such as India and China, where Suzlon plans to increase its presence.
Suzlon founders, the Tanti family, sold 4% of the company's equity to help fund the acquisition of Repower. The family owns 60% of Suzlon after the sale, the company said.
Suzlon Energy provides customers with total wind power solutions.
Promoters of Suzlon have pledged 42.62 crore shares, or 28.45% equity in the company with lenders. The total promoter holding in the company is 65.83% (as on March 2009).