Report says that CLP India will acquire 49% of the project and, a year after its commissioning, will acquire majority control and may even buy Suzlon out entirely.
CLP Group is in advanced negotiations to buy stakes in a 100 MW solar park project in Telengana from Suzlon Energy, according to reports. A formal announcement is expected in a few days.
Report says that CLP India will acquire 49% of the project and, a year after its commissioning, will acquire majority control and may even buy Suzlon out entirely.
Suzlon Energy Ltd ended at Rs. 16.2, up by Rs. 0.85 or 5.54% from its previous closing of Rs. 15.35 on the BSE.
The scrip opened at Rs. 15.45 and touched a high and low of Rs. 16.35 and Rs. 15.4 respectively. A total of 62060382(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 8133.22 crore.
The BSE group ‘A’ stock of face value Rs. 2 touched a 52 week high of Rs. 28 on 06-Aug-2015 and a 52 week low of Rs. 12.8 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 16.35 and Rs. 14.6 respectively.
The promoters holding in the company stood at 20.97 % while Institutions and Non-Institutions held 23.05 % and 55.76 % respectively. The stock traded above its 200 DMA.
CLP plans to acquire Suzlon’s Telengana project
