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 ...

Recommended for you

Advertisements

Quick Links

Market News

CIL sale raises Rs 22.4k cr, drags markets

OFS becomes biggest equity offering ever

Sensex tanks 500 points on CIL sale, banks' woes

Ending its 10-day gaining streak, the NSE Nifty closed 143 points, or 1.6 per cent, lower at 8,808.9

Positive move for Adani Enterprises' shareholders

Unsurprisingly, Adani Power closed marginally up (0.68%) at Rs 51.90 on bourses, while Adani Ports and SEZ closed 0.9 per cent down at Rs 340.50

NCDEX plans to introduce India gold futures contract

The contract will only accept gold that is refined by Indian companies

Gold falls 1% on global cues

Standard gold fell 0.9% to close at Rs 27,900/10g in Zaveri Bazaar, Mumbai on Friday, following a sharp decline in global markets on Thursday

 

Back to Top