Suzlon Energy has surged 17% to Rs 18.75 on the back of heavy volumes erasing part of yesterday’s about 34% fall on BSE.
The stock opened at Rs 17.65 and hit a high of Rs 20.60 so far. As many as a combined 54.22 million shares have already changed hands on the counter till 1009 hours against 90 million shares that were traded daily in past two weeks on BSE and NSE.
The promoters of Suzlon Energy had sold as much as 110 million shares or 6.2% stake of the paid-up capital of the company, to raise Rs 240.4 crore.
Most of these shares were bought by Morgan Stanley Asia (Singapore) Pte and Citigroup Global Markets Mauritius Private Limited though bulk deals, the BSE data shows.
Suzlon Energy in a regulatory filing said that parts of funds so raised would be infused into the company by suitable mode at the earliest, subject to applicable law to comply with equity infusion requirement under CDR mechanism as promoters' contribution, which in current liquidity situation would also support the operations of the company.
The stock opened at Rs 17.65 and hit a high of Rs 20.60 so far. As many as a combined 54.22 million shares have already changed hands on the counter till 1009 hours against 90 million shares that were traded daily in past two weeks on BSE and NSE.
The promoters of Suzlon Energy had sold as much as 110 million shares or 6.2% stake of the paid-up capital of the company, to raise Rs 240.4 crore.
Most of these shares were bought by Morgan Stanley Asia (Singapore) Pte and Citigroup Global Markets Mauritius Private Limited though bulk deals, the BSE data shows.
Suzlon Energy in a regulatory filing said that parts of funds so raised would be infused into the company by suitable mode at the earliest, subject to applicable law to comply with equity infusion requirement under CDR mechanism as promoters' contribution, which in current liquidity situation would also support the operations of the company.
