Business Standard

Suzlon Energy surges on debt restructuring report

The company, which last month defaulted on $200 million convertible bond redemption, has been admitted to corporate debt restructuring process.

Related News

Suzlon Energy has surged almost 11% to Rs 17.15 on back of over three-fold jump in trading volumes on reports that the makers has been admitted to corporate debt restructuring (CDR) process.

“Suzlon Energy, which last month defaulted on $200 million convertible bond redemption, has been admitted to India's corporate debt restructuring process,” the Reuters report suggests.

Loss-making Suzlon Group last month said it has started discussions with lenders for restructuring debt, including a two-year moratorium on repayment of term loans.

“The company has initiated discussions with its senior secured lenders and plans to restructure its debt with a maturity period of ten years under the mechanism, including a two-year moratorium on principal and interest payments on term-debt,” said in a statement.

The stock opened at Rs 15.50 on the BSE and has seen over three-fold surge in trading volumes. As many as a combined 28.04 million shares have already changed hands on the counter so far against an average sub 9 million shares that were traded daily in past two weeks on the BSE and NSE.

Read more on:   
|
|

Read More

BSE launches carbon index

Premier bourse BSE, in collaboration with the UK government, today launched BSE Carbonex, the first-of-its-kind index in India or any emerging market ...

Quick Links

 

Market News

Reliance Capital gains on Nippon Life stake hike plan

Nippon Life Insurance has agreed to increase its stake in Reliance Capital Asset Management from 26% to 49%.

JBF Industries hits 52-week high on heavy volumes

The stock rallied 16% to Rs 199 on back of over four-fold jump in trading volumes.

Sensex, Nifty remain weak; banks and IT shares lose sheen

The Sensex is down 33 points at 28,305 and the Nifty has slipped lower by 12 points to trade at 8,451

V-Guard Industries hits record high

Post September quarter results, the stock rallied 25% as compared to 1.6% rise in the benchmark CNX Nifty.

New checks to ringfence markets from defaults, systemic risks

New mechanism aims to cut risks faced by markets due to defaults, will also have 'default waterfall' marks to limit liability of non-defaulting ...

Back to Top