Suzlon gains on entering into agreement to divest 75% stake in SETL for $28 million

Suzlon Energy Ltd. | Electric Equipment | Capital Goods & Industrial Consumables | BSE: 532667 | NSE: SUZLON

19 Sep 2013 Evaluate

Suzlon Energy is currently trading at Rs 6.75, up by 0.21 points or 3.21% from its previous closing of Rs 6.54 on the BSE.

The scrip opened at Rs 6.90 and has touched a high and low of Rs 6.95 and Rs 6.70 respectively. So far 617658 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 26.90 on 06-Feb-2013 and a 52 week low of Rs 5.72 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs 7.00 and Rs 6.30 respectively. The current market cap of the company is Rs 1414.04 crore.

The promoters holding in the company stood at 37.78% while Institutions and Non-Institutions held 26.84% and 35.17% respectively.

Suzlon Group, the world’s fifth largest wind turbine maker, has entered into an agreement with China’s Poly LongMa Energy (Dalian) - a conglomerate focused on conventional and green energy investments - to divest 75 percent stake in its China-based manufacturing subsidiary - Suzlon Energy Tianjin (SETL) - for $28 million, with the first tranche of payment completed per the terms of the agreement. Suzlon Group will continue to own 25 percent share in the company and participate in its operations as joint venture partner.

Thereafter, Poly LongMa Energy (Dalian) will lead marketing and sales operations in China, with Suzlon acting as technology partner with its existing China portfolio -including the S66-1.25 MW, S82-1.5 MW and S88-2.1 MW turbines, and manage manufacturing and quality for the venture.

Suzlon Group comprises of Suzlon Energy and its subsidiaries, including Repower Systems SE. Suzlon Energy is leader in wind energy in the India, which is world’s fifth largest wind energy market.

Suzlon Energy Share Price

54.98 -0.67 (-1.20%)

08-May-2026 16:59 View Price Chart

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