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The announcement that lenders have agreed to restructure the company’s debt and the rollover of open interest into December series owing to the last day of F&O settlement saw the Suzlon Energy stock rise by 8.80 per cent from its previous close on the BSE on Thursday. The stock ended the day at Rs 18.55 with a total traded quantity of 1.67 crore shares against the two-week average of 44.02 lakh shares.
The counter witnessed a high rollover of 96 per cent in open interest to December. Suzlon also announced its portfolio of projects around the world crossing the 20 GW milestone. In a filing with the exchange, Suzlon Group chairman Tulsi Tanti said: “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.”
According to reports, the lenders of Suzlon Energy on November 27 agreed to restructure about Rs 11,000 crore of debt as per a corporate debt restructuring package.
However, Kishore Oswal, MD, CNI Research, said the long-term outlook on the stock would depend on the fine-print of its recent corporate debt restructuring announcement. “We continue to maintain a ‘neutral’ rating on the stock till there is more clarity on the nitty-gritty of its CDR.,” he added.
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