Suzlon Energy gains on plan to sell non-core assets amounting to Rs 1,000 crore

Suzlon Energy is currently trading at Rs. 14.95, up by 0.03 points or 0.20 % from its previous closing of Rs. 14.92 on the BSE. The scrip opened at Rs. 15.00 and has touched a high and low of Rs. 15.20 and Rs. 14.64 respectively. So far 936953 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 15.55 on 10-Apr-2014 and a 52 week low of Rs. 5.72 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 15.55 and Rs. 11.03 respectively. The current market cap of the company is Rs. 3692.41 crore. The promoters holding in the company stood at 39.19 % while Institutions and Non-Institutions held 29.15 % and 31.38 % respectively. Suzlon Energy, a wind power major is planning to sell its non-core assets amounting to Rs 1,000 crore in order to reduce its piling debt. The sale of non-critical assets would be in India only. With an installed wind energy capacity of 24,000 MW globally, 70% of Suzlon’s revenue comes from overseas. The company’s installed capacity in India is about 8,000 MW with a 40% market share. The company’s current order book position globally stands around $8 billion. Suzlon Group comprises of Suzlon Energy and its subsidiaries, including Repower Systems SE. Suzlon Energy is leader in wind energy in the India, which is world’s fifth largest wind energy market. Its business model has range of services that include development, manufacturing, marketing, EPC project delivery and operations and maintenance of wind turbine generators around the world.