European wind turbine makers interested; deal could be $1 billion. The company aims to raise about $1 billion from the sale of a 61.28 per cent stake, said two banking sources.
Suzlon Energy is relocating its management team to Amsterdam to span their global business.
Says the company encroached on people's land; will decide later if two of its wind mills can continue.
The structure of Suzlon's takeover of REpower significantly lessens the financial implications, though the FY08 earnings may still take a hit.
Suzlon's Rs 6,000 crore (Rs 60 billion) bid to acquire Germany's third largest wind turbine maker REpower could well turn into a bidding war
In a filing to the Bombay Stock Exchange, Suzlon Energy said the board has also approved increasing the private investment limit in one of its subsidiary to 17.1 per cent for a consideration of Rs 400 crore (Rs 4 billion). However, the company did not disclose where it would deploy the funds raised.
The Kerala government decided to remove Suzlon Energy's windmills and other establishments from land in the Attappadi tribal area of Palakkad district, saying the company had taken the area illegally.
Suzlon shareholders approve of the stock split in a 1:5 ratio.
Suzlon Wind Energy, the North American subsidiary of India's Suzlon Energy Ltd, on Friday said it plans to generate 728 MW of clean power in the US in 2010 through nine wind farms.
Indian IT giant Tata Consultancy Services, telecom major Bharti Airtel and wind-turbine maker, Suzlon are among the global firms that have high sustainable development standards, a report by leading Swiss lender, Bank Sarasin, has said.
The Rs 6,130-crore (Rs 61.3 billion) Suzlon will buy out Areva's stake in REpower, a year down the line, at a valuation to be decided on by an independent team.
Wind power major Suzlon Energy on Friday said it was looking at exploring new markets like Greece, UK, Taiwan and Philippines besides strengthening its operations in China.
SEL will also be setting up an innovation centre in Denmark, which will focus on concepts beyond design and development-related R&D.
Tanti, who acquired Germany's REpower Systems last year, today announced plans to buy Chinese wind energy company Honiton Energy Holdings. The acquisition will be concluded through Colossus Holdings, a Singapore-based holding company of the Tanti group, and Bahrain-based private equity company Arcapita Bank for over $500 million (Rs 2,162 crore), sources said.
Leading wind power company, Suzlon Energy Ltd on Tuesday said it will invest Rs 1,500 crore (Rs 15 billion) to set up manufacturing facilities in India, in order to increase export market share and demand.\n
IndusInd Bank, Suzlon, and Paytm will remain under focus, as the stocks are pegged to get added to the MSCI global standard index. These stocks, along with six others, are seen attracting cumulative inflows of nearly $2 billion from passive funds tracking MSCI indices. Persistent Systems, APL Apollo, Polycab, Macrotech Developers, Tata Motors DVR, and Tata Communication are the other six stocks that will be added to the MSCI index, shows an analysis done by Nuvama Alternative & Quantitative Research.
Farmers who have offered their lands for windmills to Suzlon Energy have continued their agitation by cultivating their lands surrounding the windmills.
Global professional services firm Ernst and Young said on Tuesday it will induct Suzlon Energy Chairman Tulsi Tanti in its World Entrepreneur of the year Academy on June 3 in Monte Carlo, Monaco.
Analysts said Areva still has a window under German rules to scale up its offer.
The NSE Nifty ended up 26 points at 4,286.
Suzlon Energy Ltd will hit the capital market on September 23 for raising upto Rs 1500 crore (Rs 15 bilion) to expand its domestic manufacturing facilities and set up new plants in the US and China.
Suzlon Energy Ltd, one of India's largest wind turbine manufacturers, said on Monday sting Rs 1,500 crore (Rs 15 billion) to expand its manufacturing facilities with an aim to achieve over 40 per cent revenue growth this year.
Ahmedabadbased Suzlon Energy has tied up funds for its Euro1.2 billion (Rs 6,543 crore) bid for the German power company, REpower, even before the last date for raising bid by the rival French giant Areva expires on Thursday.
The US department of energy has signed a memorandum of understanding with GE Energy, Siemens Power Generation, Vestas Wind Systems, Clipper Turbine Works, Suzlon Energy and Gamesa Corporation to improve industrial wind power manufacturing capabilities, said a DoE release. US is the fastest growing wind energy market in the world with 30 per cent annual growth in the last five years and with over 25 per cent of the global installed capacity.
Consultancy Services CEO S Ramadorai was named Manager Entrepreneur of the Year.
Solar equipment manufacturing, however, is unlikely to pick up in India as Chinese imports are more cost-effective
The rally in the equity markets in the second half of 2023 has led to a sharp surge in the cutoff for stocks to qualify as largecaps and midcaps. On the latest list put out by the Association of Mutual Funds in India (Amfi), the smallest largecap stock now has a market capitalisation (m-cap) of Rs 67,000 crore, 35 per cent higher than in July 2023. In the case of midcaps, the cutoff has surged 26 per cent to Rs 22,000 crore.
At a time when exchange-traded funds (ETFs) were unloading Jio Financial Services from their portfolios, some active fund managers were placing large bets on the demerged financial services arm of Reliance Industries Ltd (RIL), a report by Nuvama Alternative & Quantitative Research shows. Motilal Oswal Mutual Fund and Quant Mutual Fund were the top MF buyers of the stock in August. They bought around 60 million shares each, together investing around Rs 2,800 crore.
When Vineet Mittal first got into solar power, sometime around 2009, and was planting solar panels in Gujarat, renewable energy looked like a sector ripe for startups. Renewables were clearly the future of energy, and the big boys - Mukesh Ambani's Reliance, Adani Group, and the Tatas - were focusing much more on coal and petroleum. Little did Mittal know that things were going to change drastically.
The fundraising through rights issues in the first 10 months of 2022 is the lowest since 2016 during a similar period.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Corporate earnings grew in double digits during the April-June 2022 (Q1FY23) quarter but the momentum waned. Overall corporate earnings in the quarter were down sharply from their highs in FY22. The combined net profit of 2,981 listed companies across sectors in the Business Standard sample was up 22.4 per cent YoY to Rs 2.24 trillion in the June quarter, driven by a big jump in the earnings of banks, non-banking lenders, oil & producers, and FMCG companies. Also, earnings in the corresponding quarter a year ago were affected because of the second wave of the Covid pandemic, even though the numbers were a lot better than Q1FY21 when there was a nationwide lockdown.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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