Suzlon Energy fell 4.38% to Rs 55.70 at 14:09 IST, extending recent losses, after the company reported dismal Q2 September 2009 results on Saturday, 31 October 2009.
Meanwhile, the BSE Sensex was up 429.40 points, or 2.79%, to 15834.34.
On BSE, 2.28 crore shares were traded in the counter as against an average daily volume of 1.21 crore shares in the past one quarter.
The stock hit a high of Rs 60.90 and a low of Rs 54.40 so far during the day. The stock had hit a 52-week high of Rs 145.85 on 5 June 2009 and a 52-week low of Rs 33.05 on 12 March 2009.
The stock has plunged 37.73% in eleven sessions from a recent high of Rs 89.45 on 17 October 2009.
The stock had underperformed the market over the past one month till 3 November 2009, sliding 36.82% as compared to the Sensex 10.09% fall. It underperformed the market in past one quarter, slipping 39.10% as against 3.26% decline in the Sensex.
India's largest wind turbine maker by sales has an equity capital of Rs 311.34 crore. Face value per share is Rs 2.
Suzlon reported a net loss of Rs 184.91 crore in Q2 September 2009 compared with a net profit of Rs 16.98 crore in Q2 September 2008. Sales fell 72.3% to Rs 616.02 crore in Q2 September 2009 over Q2 September 2008.
On a consolidated basis, the net loss widened to Rs 355.52 crore in Q2 September 2009 from Rs 22.84 crore in Q2 September 2008. Total income declined 30.85% to Rs 4855.47 crore in Q2 September 2009 over Q2 September 2008.
Suzlon's profit were hurt as the company got fewer orders this year because major economies are struggling with last year's financial crisis. Suzlon said its orderbook stood at 1,488 megawatts (MW), with 1,365 MW in international orders and 123 MW in domestic orders.
For the current fiscal year that end on March 2010, the company revised its full year guidance to a range of 1,900 MW to 2,100 megawatts.
During Q2 September 2009, Suzlon completed and commissioned a 19.5 MW wind farm project for Gujarat Mineral Development Corporation (GMDC) in Rajkot, Gujarat. The project comprises 13 units of Suzlon's 1.5 MW wind turbines and was commissioned in record time, it said.
Promoters have pledged 35.76 crore crore shares representing 22.97% of the equity capital of the company. Total promoters shareholding in the company is 53.08% (as on September 2009).