Highlighting the need for restructuring, Suzlon Energy said that the amalgamation would result in simplified group structure to further improve transparency.
Shares of Suzlon Energy Ltd were trading lower in the afternoon session today despite country’s largest renewable energy solutions provider Suzlon Group executing the definitive documents for securing working capital facilities with REC Limited. Suzlon will utilise the facility for meeting working capital requirements for the execution of its current order book and future order pipeline.
Shares of Suzlon Energy Ltd snapped their five-session winning run amid weak sentiment in the broader market in early trade today. The stock gained 13.26% since the November 9 close of Rs 37.32 on BSE. The stock has been rallying amid news that it could enter AMFI's midcap category in the January rejig. Another trigger behind the rally last week was the news that Suzlon Energy was likely to be included in the MSCI Global Standard Index during its upcoming rejig on November 15. The renewable energy scrip was included in the index last week.