Suzlon Energy rises 2% on provisional credit rating to arm

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Shares of Suzlon Energy were up nearly 2 percent intraday on Monday after the company’s arm, Suzlon Global Services, received a provisional credit rating of 'A-' from CARE. "The rating has been assigned for its proposed long term and short term bank facilities. CARE 'A' ratings are considered to have adequate degree of safety regarding timely servicing of financial obligations, carrying low credit risk," it said in a filing to the exchanges. According to the statement, the proposed long term and short term bank facilities of around Rs 1,600 crore include Rs 1,350 crore term loan, and working capital facility of Rs 100 crore. The proposed facility will be primarily used to repay the debt at the group level to optimise the overall debt structure and interest cost, it said.The company’s shares had added over 3 percent intraday last week on a repeat order win of 50.40 MW. The project consisted of 24 units of S97 120m hybrid tower with a capacity of 2.1 MW, located in Kutch, Gujarat. Earlier in the month, the company’s shares also saw a strong rally after the group announced achievement of 10,000 MW of cumulative wind energy installations in the country. The stock has seen very strong movements, having risen over 28 percent in the past one month. In fact, in the past 15 days, the scrip rose 16 percent, on the BSE. At 10:26 hrs, Suzlon Energy was quoting at Rs 17.65, up Rs 0.27, or 1.55 percent, on the BSE. It touched an intraday high of Rs 17.72 and an intraday low of Rs 17.50.(With inputs from PTI)