Business News Desk – Suzlon Energy informed after market close on Friday that the company has acquired 51 per cent equity share capital of Renome. With this acquisition, Renome has now become a subsidiary of the company. In an exchange filing, the company said, “The company has completed the acquisition of 51 per cent equity share capital of Renome on September 6, 2024. With this acquisition, Renome has now become a subsidiary of the company.”
Earlier on September 4, the company had sent information related to the sale of corporate office One Earth to the stock market. The company had said that it has made a deal with OE Business Park Private Limited i.e. OEBPPL. Under this deal, One Earth property, which was the corporate house of the company, will be sold, which the company will lease back. This sale will be for more than Rs 400 crore.
In the last one year, the company’s stock has seen a gain of 214.92 percent. The 52-week high of the stock is Rs 84.29. In the year 2024, FIIs have increased their stake in the company. Since the beginning of the financial year 2023-2024, the stock of Suzlon Energy has seen a tremendous jump. Experts say that the long term chart shows that as long as the stock remains above Rs 72.80, the trend is likely to remain favorable for the stock.
