Suzlon Energy is trading higher by over 4% to Rs 18.75, extending its previous day’s about 2% gain, after the foreign institutional investor, Morgan Stanley Mauritius Company acquired more than 30 million shares of the company from its promoter via an open market transaction.
On December 26, 2012 Morgan Stanley Mauritius Company Ltd bought 32.6 million shares of wind turbine maker at Rs 16.75 on the National Stock Exchange. "The promoters of the company have sold 37.5 million shares for a total consideration of approximately Rs 63 crore, representing approximately 2.11% of the paid up capital of the company," Suzlon Energy said in a statement.
The stock opened at Rs 18 and has seen a combined 5.95 million shares changing hands on the counter in early morning deals.