Suzlon Energy extend gains on debt recast report

Suzlon Energy has surged 11% to Rs 18.90, extending its Tuesday’s 11% gain, on reports that lenders have agreed to restructure about Rs 11,000 crore of the company’s debt.

"The lenders led by SBI have agreed to consider Rs 11,000-crore corporate debt restructuring (CDR) proposal and hope to conclude the deal in the next few months," the PTI report suggests quoting a top Suzlon official.

Meanwhile, the wind turbine maker today said it has crossed the 20,000-mw of installed capacity operating across 32 countries.

"We have grown into the world's fifth largest wind turbine maker with a global fleet of over 20,500 mw operating across 32 countries," Suzlon Group chairman Tulsi Tanti said in a statement.

The stock opened at Rs 108 on the BSE, have seen an over four-fold jump in trading volumes. As many as a combined 61 million have already changed hands so far against an average 14 million shares that were traded daily in past ten trading days.