Suzlon registered an exponential rise in net profit, at ₹2,432.55 crores, in the June quarter compared to the same quarter a year ago, contributed by exceptional gains.
The shares of Suzlon Energy hit the upper circuit at ₹10.57 surging as high as 19.98 percent on Monday.
Suzlon stocks have been on an upward rise for the past few days. Suzlon disclosed saying, “SBICAP Trustee has recently reported the creation of encumbrance over the shares held by the Promoters in the company in favor of SBICAP Trustee in terms of Regulation 29(2) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Please note that inadvertently; SBICAP Trustee had mentioned the name of ‘Adani Green Energy Limited’ as the ‘Target Company’ in its reporting, instead of ‘Suzlon Energy Limited.’ The said error has since been rectified by SBICAP Trustee.”
The Suzlon market capitalization surged to ₹10,346.84 crores on the Bombay Stock Exchange. Approximately 1263.90 lakh shares were transferred which amounted to a turnover of ₹131.14 crores.
