Suzlon Energy shares surge 20% to hit upper circuit

Shares of Suzlon Energy on Monday surged as much as 19.98 per cent to hit the upper circuit, at Rs 10.57

The stock has been again locked in the upper band during afternoon deals after slipping from its day's high in late morning trade.

Suzlon has been on the upward move for the past few days.

SBICAP Trustee had mentioned the name of 'Adani Green Energy Limited' as the ‘Target Company’ in its reporting, instead of 'Suzlon Energy Limited.

The market capitalisation (m-cap) of Suzlon rose to Rs 10,346.84 crore on BSE. A total of 1264.90 lakh shares of the firm changed hands amounting to a turnover of Rs 131.14 crore.

"SBICAP Trustee is acting as trustees for the benefit of REC led consortium" said Suzlon

Meanwhile, Suzlon posted a multi-fold rise in its net profit, at Rs 2,432.55 crore, in the June quarter compared to the year-ago period, helped by exceptional gains

The consolidated net profit of the company was Rs 3.64 crore in the quarter that ended June 30, 2021.

The total income of the renewable energy solutions provider rose to Rs 1,383.47 crore in the quarter from Rs 1,148.61 crore a year ago