Suzlon Energy hits nine-month high on heavy volumes

The stock rallied 11% to Rs 29.65, its highest level since June 2014 on the National Stock Exchange.

Suzlon Energy has moved higher by 11% to Rs 29.65, its highest level since June 2014 on the National Stock Exchange (NSE), on back of heavy volumes.

The trading volumes on the counter more than doubled with a combined 157.9 million shares changed hands till 1511 hours on the NSE and BSE.

Since February 16, 2015, the stock rallied 55% from Rs 19.14, after Suzlon Energy signed definitive agreements with Dilip Shanghvi Family and Associates (DSA) for equity investments of Rs 1,800 crore, entailing 23% holding. The CNX Nifty was down 1.4% during the same period.