Intraday Buy Call For Suzlon Energy

SuzlonEnergy LtdStock market analysts have maintained 'Buy' rating on SuzlonEnergy Ltd to achieve an intra-day target of Rs 100.

According to analysts, day traders can buy the stock between Rs 89-91 with a stop loss of Rs 86.50.

Shares of the company, on Tuesday (May 19), closed at Rs 89.85 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 1.31 and 70.69 respectively. The share price has seen a 52-week high of Rs 320.80 and a low of Rs 33.05 on BSE.

On May 13, the company divested its 2% equity stake by selling off 30 million shares.

Following the sale, the promoter/promoter group holding in the company stands diluted to 63.82% of the paid-up Capital.

Suzlon Energy on May 06 received an order to establish a 52 MW wind power facility near Jakhao in Kutch.

The new plant will be licenced before September 2009 from Gujarat State Petroleum (GSPC).

GSPC stated that the financial affiliation has also been arranged and advance payment has already been made to the company.

On May 04, Suzlon Energy declared that the company has paid Euro 30 million for the second tranche of Martifer Group`s stake in REpower due in April 2009.

The deal will increase Suzlon`s holding in REpower to 76%.

The company already holds around 91% voting rights in REpower via an existing contract with Martifer.