Suzlon deep in red

Suzlon is currently the biggest loser on the BSE, down 5% at Rs.9.70, hitting the lower circuit, just l;ike yesterday. Its 52-week low is at Rs.5.27.

The stock is deep in the red post its performance for Q2FY14, wherein losses continued. It posted a net loss at Rs.782 crore and the only thin solace being that at least it is lower than Q2FY13 loss of Rs.808 crore and much lower than loss of Rs.1059 crore in Q1FY14. A forex loss of Rs.70 crore and a restructuring cost, under Project Transformation, further added a burden of Rs.67 crore. Total income dropped 17% at Rs.4820 crore. Overall being a very disappointing set of numbers, traders seem to have deserted this ship.