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

Sensex reclaims 26,500 led by financials; HDFC up 3%

Sensex is at 26,504 with a gain of 395 points while Nifty is up 121 points at 7,901

Refined soya oil down 0.3% on low demand

Oil for delivery in October weakened by 0.03%

Chana down 0.9% on higher supply

Commodity for delivery in November traded lower by 0.76%

Cardamom up 1.1% on firm spot demand

Spice for delivery in November moved up by 0.86%

Palm oil down 0.6% on sluggish demand

Oil for delivery in October traded lower by 0.58%

Back to Top