Suzlon Energy has support around Rs 25- 26, says SP Tulsian, sptulsian.com.
Tulsian told CNBC-TV18, "I am not too disturbed with Suzlon Energy numbers because the only negative which has been is the guidance given by the management and that too for FY12. If you see it is the arithmetical adjustments - already three quarters are out. If you see the performance of REpower- if you see the EBITDA there is increase in EBITDA by about Rs 130-140 crore but if you see this Q3 on a consolidated basis the tax liability has increased from Rs 30 crore to Rs 130 crore and that has resulted the net losses to go up."
He further added, "Considering the order flow to the extent of 1500 megawatt and especially from the domestic front as well as the overseas I think the company has good future. The only concern remains on the domestic operations which we all know that they have all sorts of problems here in the domestic operations but post acquisitions of REpower. In the last week of October I think that is going to help the company improve its performance but I won't be taking the Q3 results on a consolidated basis as negative. Probably a lot of technical build up has happened in the stock and now we are seeing the profit booking. The stock should take a support at around Rs 25-26 again where the renewed buying interest is likely to come back."
