Yesterday Suzlon Energy's promoters sold 2% stake via block deal. They sold 3.7 crore shares at Rs 27.15 per share. The comapny's promoters have lowered their stake to under 53%, reports CNBC-TV18.
Yesterday Suzlon Energy 's promoters sold 2% stake via block deal. They sold 3.7 crore shares at Rs 27.15 per share. The comapny's promoters have lowered their stake to under 53%, reports CNBC-TV18.
Goldman Sachs bought nearly 3.28 crore shares in the company via block deals at an average price of close to Rs 27.
The share touched a 52-week low of Rs 23.85. At 09:19 hrs the share was quoting at Rs 24.90, down Rs 0.70, or 2.73%.
PN Vijay, Portfolio Manager advice investors to buy Suzlon Energy at current levels for long term.
Vijay told CNBC-TV18, “Suzlon we have seen in the last two quarters, a lot of its pain has been out of the way. They are within the order traction and they are doing something to their balance sheet so all these positives are there. So at some time when more salubrious environment prevails and people are feeling a little bit better about stocks than they are right now, it would surely be a buy candidate because it has got a fantastic story and it has corrected humongously. So one do gets Suzlon on over two years surely at this it’s going to start accumulating.”
Meghana Malkan of Malkansview.com advices investors to sell Suzlon Energy .
Malkan told CNBC-TV18, “Suzlon is completely in a new territory. I would certainly not look at the chart of Suzlon. It is a sell. We do not know where the fall is going to halt and I would really not try to bottom fish such a stock. If it sustains below Rs 25, Rs 20 should be a good level to hold on to but currently not to touch a falling knife that is my view is on Suzlon.”
It was trading with volumes of 793,787 shares. In the previous trading session, the share closed down 12.48% or Rs 3.65 at Rs 25.60.
The company's trailing 12-month (TTM) EPS was at Rs 2.26 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 10.93. The latest book value of the company is Rs 38.11 per share. At current value, the price-to-book value of the company was 0.65.
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