Suzlon in the green

Suzlon, among the top five gainers on the BSE currently, rose over 12.5% to hit an intraday high at Rs.9.62; its 52-week high is at Rs.13.10.

The stock price rose, reacting to its post-market announcement of yesterday, saying that it will decide on the terms and conditions of its proposed rights issue at a board meeting on September 25, Sunday.

And in another news, Singapore-based Sembcorp Industries (and its renewables subsidiary Green Infra Wind Energy Limited) entered into supply and project development agreements with Suzlon Group.

The agreements entered into were for the supply of 86 Wind Turbine Generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 2.1 MW each, and for execution of the project (including erection and commissioning) in relation to a 180.6 MW wind power project for Sembcorp.

Sembcorp's wind power project shall be located at Kanakagiribad, Bagalkot in Karnataka. Suzlon will also provide comprehensive operation and maintenance services after the commissioning of the project.