Suzlon Energy rose 3.66% to Rs 2.83 after the company said its board will meet on 27 February 2020 to consider issuing equity shares.
The board will consider issuance of the equity shares and/or equity linked instruments and/or convertible securities of the company in terms of the company's proposed resolution plan by way of preferential issue, private placement or any other method permissible in terms of the applicable regulations and as the board may deem fit.The proposal is subject to the approval of the consortium of lenders and such other regulatory/nodal authority and further subject to the approval of the shareholders at a duly convened extra ordinary general meeting of the company. The announcement was made after trading hours yesterday, 24 February 2020.
On a consolidated basis, Suzlon Energy reported net loss of Rs 733.42 crore in Q3 December 2019 as compared to a net loss of Rs 98.65 crore in Q3 December 2018. Net sales slumped 40.1% to Rs 653.57 crore in Q3 December 2019 over Q3 December 2018.
Suzlon Energy is a producer of wind turbines. It offers a range of solar energy solutions, such as solar irradiance assessment, land acquisition and approvals, infrastructure and power evacuation, supply chain, installation and commission and life cycle asset management.
Powered by Capital Market - Live News