On Wednesday's trading session, Suzlon Energy's share price witnessed a remarkable surge, soaring by nearly 5% to achieve a new 52-week high.
The rally was sparked by the news of Suzlon Energy's promoter releasing a pledge on a substantial block of shares totaling 97.10 crore (equivalent to 7.13% equity)
In a recent exchange filing, SBICAP Trustee Company Limited announced the release of pledged shares in Suzlon Energy Limited, executed on September 28.
This significant move marks SBICAP Trustee's strategic decision to divest its holdings in Suzlon Energy Limited
Prior to this share disposal, SBICAP Trustee Company Limited possessed a substantial 7.13 percent stake in Suzlon Energy
equivalent to 97,10,65,538 equity shares. However, as a result of this action, SBICAP Trustee now holds no remaining stake in Suzlon Energy.
As of Wednesday afternoon at 12:42 pm IST, Suzlon Energy shares demonstrated a notable surge in value.
Trading at Rs 27.95, the shares reflected a substantial increase of 3.71 percent, further illustrating the dynamic nature of the financial markets.
As the trading day unfolded, it reached an intraday high of..........