Suzlon falls 2% after selling two subsidiaries

Shares of Suzlon Energy fell almost 3 percent intraday on March 28 after the renewable project developer completed the sale of two of its subsidiaries to CLP Wind Farms (India) Ltd (CLP).

The company in its BSE release said that it was selling the remaining stake in its subsidiaries Gale Solar Farms Limited (Gale) and SE Solar Limited (SE Solar) for consideration of Rs 22.54 crore and Rs 76.55 crore, respectively.

The Pune-based company also said that the turnover for Gale for FY18 was Rs 72 lakh, while SE Solar posted a turnover of Rs 54.43 crore.

At 1511 hours, Suzlon Energy was quoting at Rs 6.53, down 1.8 percent on the BSE.

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