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Suzlon Energy surges on completing sale of stake in SE Solar, Gale Solarfarms

26 Mar 2019 Evaluate

Suzlon Energy is currently trading at Rs. 6.54, up by 0.10 points or 1.55% from its previous closing of Rs. 6.44 on the BSE.

The scrip opened at Rs. 6.51 and has touched a high and low of Rs. 6.90 and Rs. 6.40 respectively. So far 5500070 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 12.39 on 10-Apr-2018 and a 52 week low of Rs. 2.70 on 05-Feb-2019.

Last one week high and low of the scrip stood at Rs. 7.03 and Rs. 6.37 respectively. The current market cap of the company is Rs. 3622.77 crore.

The promoters holding in the company stood at 19.82%, while Institutions and Non-Institutions held 14.89% and 65.29% respectively.

Suzlon Energy has completed sale of securities of SE Solar and Gale Solarfarms held by the Company to CLP Wind Farms and accordingly SE Solar and Gale have ceased to be subsidiaries of the Company. The Company has sold its stake in SE Solar for a consideration of Rs 76.55 crore and the Company has sold its stake in Gale for a consideration of Rs 22.54 crore.

Suzlon Group is one of the leading renewable energy solutions providers in the world with an international presence across 18 countries in Asia, Australia, Europe, Africa and North and South America.

Peers
Company Name CMP
Waaree Energies 2330.20
Apar Industries 17968.00
Havells India 1046.20
Suzlon Energy 39.01
Siemens 3751.20
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