The company made this announcement during trading hours on Wednesday, 15 September 2010, when the stock had lost 0.1% to Rs 51.65.
The stock hit a high of Rs 53.80 and a low of Rs 51.60 so far during the day. The stock had hit a 52-week high of Rs 103.99 on 22 September 2009 and a 52-week low of Rs 43.05 on 1 September 2010.
Suzlon Energy reported consolidated net loss of Rs 912.22 crore for Q1 June 2010, much higher than a net loss of Rs 452.67 crore for Q1 June 2009. Net sales slumped 42.2% to Rs 2398.65 crore in Q1 June 2010 over Q1 June 2009.
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That was the news and now to the weekly chart below;
The price is on the verge of breaking the 2 year downtrend line A buy here with an aggressive stop a lil below 50 , or a more conservative stop at 45 for a target of 65/68 initially. Further down the road we have 80 and roughly 95 if momentum picks up!!!
