Suzlon shares up on African order

Shares in Suzlon Energy rose more than 2.5 percent after the company said on Wednesday it signed a contract with African Clean Energy Developments for supplying up to 200 wind turbines. Separately,Singapore-based Kim Eng initiated Suzlon coverage with a 8216;buy8217; and has set a target price of 75 rupees on strong demand for wind energy with large spending in India and other emerging markets. We forecast FY12 to be the turnaround year for Suzlon with profit of 8.4 billion rupees,it said in a note. At 10.52 a.m. shares in the company were trading at 49.65 rupees,up 1 percent.