Suzlon Share Price: After the promoters of Suzlon Energy Ltd. released some pledged shares on Wednesday, the company’s shares are now stuck in an upper circuit of 5% for the second straight day. According to a filing with the exchange, the promoters of Suzlon released the pledge on 97.1 crore shares held by SBICAP Trustee Company Ltd. 7.1% of the total equity was released in the form of shares.
Suzlon’s Key Announcement on September 28
According to the announcement, the pledged shares were released on September 28. The promoters of the company held roughly 180 crore shares, or 13.3 percent of the company, according to the shareholding pattern disclosed by the company on August 14. Nearly 81 percent, or 146 crore shares, of this holding were pledged. Renewable energy solutions are offered by Suzlon Energy. The business manufactures wind turbines. It provides a variety of solar energy solutions, including the assessment of solar irradiance, land acquisition and approvals, infrastructure and power evacuation, supply chain, installation and commissioning, and life cycle asset management.
Stock Hits Eight-Year High with 150% Gains in 2023
On Tuesday, Suzlon’s stock soared to an eight-year high, bringing its gains through 2023 to over 150 percent. Following Dilip Shanghvi and Associates’ decision to cancel the modified and restated shareholders’ agreement, which was signed in February 2020, the stock was in the news last week. The maker of wind turbines has stressed that the agreement’s termination won’t have an effect on business operations. The price of Suzlon’s shares has increased by 5% to Rs 28.25.
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