Crompton Greaves, Essar Oil, South Indian Bank and Suzlon Energy among the other gainers
Indian Bank spurted 9.98% to Rs 128.90 and topped the gainers in the BSE's 'A' group.
Crompton Greaves gained 8.95% to Rs 164.95 after hitting 52-week high of Rs 166.50 in intraday trade. It was second biggest gainer in 'A' group.
Essar Oil jumped 8.58% to Rs 58.20. The stock was third biggest gainer in 'A' group.
South Indian Bank surged 7.13% to Rs 24.05 and was fourth biggest gainer in 'A' group. The stock gained on bargain hunting after falling 3.23% in three trading days to Rs 22.45 on 7 April 2014 from a recent high of Rs 23.20 on 2 April 2014.
Suzlon Energy rose 7.02% to Rs 14.94 and was fifth biggest gainer in 'A' group. Suzlon Energy during trading hours today, 9 April 2014, announced the strategic sale of the 240 megawatts (MW) Big Sky Wind Farm in Illinois to EverPower Wind Holdings, Inc. Suzlon Group had recently acquired the Big Sky wind farm from Edison Mission Energy via their fully owned US-based subsidiary Suzlon Wind Energy Corp (SWECO). Suzlon Energy today announced that it has signed a definitive agreement with EverPower to sell the project located in Illinois, about 95 miles west of Chicago
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This acquisition of Big Sky by EverPower makes it the nation's 18th largest wind generator, with a combined capacity of 752 MW in the US in winder power generation, Suzlon said in a statement.
Duncan Koerbel, CEO of Suzlon Wind Energy Corporation and CTO of the Suzlon Group said, "We are very pleased to welcome EverPower to the Suzlon family of customers. The SWECO OMS tea m looks forward to partnering with EverPower to maintain the high standards of availability and reliability at Big Sky that we have seen since operations started at Big Sky four years ago".
James Spencer, President and Chief Executive Officer of EverPower said, "We are pleased to add this project to our portfolio. It fits into both our overall growth strategy and our strategy of building our portfolio in liquid markets like PJM".
"This sale of Big Sky Wind Farm to a sound long term investor like EverPower is an important part of our dis-investrnent strategy to hive off non-core assets, and the net proceeds of the sale will be used to fuel our business growth", said Mr. Kirti Vagadia, Group Head Finance at Suzlon.
Completed in early 2011, the Big Sky Project utilizes 114 Suzlon 2.1 MW S88 turbines to generate enough electricity per annum for nearly 50,000 homes while also offsetting over 225,000 tons of CO2 emissions.
EverPower Wind Holdings Inc., headquartered in Pittsburgh with offices in New York City and Bellefontaine, Ohio, is a developer, owner and operator of utility grade wind projects.
Suzlon Energy on Tuesday, 8 April 2014, said that its wholly-owned subsidiary, Senvion SE, signed an agreement in late March with a consortium of banks headed by BayernLB, Commerzbank Aktiengesellschaft and Deutsche Bank AG for a syndicated working capital facilities of Euro 850 million for the period of 3 years. This move enables Senvion SE to secure follow-on financing early for the credit facilities of Euro 750 million agreed in May 2012 for the period up to August 2014, Suzlon said.
In total, 14 international banks and credit insurance companies are participating in this financing with a term of three years, syndication of which was significantly oversubscribed, Suzlon said. Six globally reputed financial institutions and banks with excellent ratings have been added to the banks consortium. The financing structure remains largely unchanged and primarily consists of non-fund based (guarantee) facilities, Suzlon said in a statement.
Marcus A. Wassenberg, CFO of Senvion said, "This enhanced facility with long tenure is of significant importance for the growth of the company and the oversubscription of the same with new additions to the consortium clearly reflects strong confidence of global banks and credit insurance companies in business fundamentals, company management and strategy of the company".
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