Suzlon shares up 9% as subsidiary bags contracts

Mumbai: Shares of Suzlon Energy rose by nearly 9 percent Monday after group firm Senvion SE bagged orders worth over Rs 420 crore for setting up wind power projects having nearly 64 MW capacity in the UK.

Suzlon Energy's scrip advanced by 7.83 percent to Rs 13.77 at close on the BSE. In intra-day session, it rallied 8.84 percent to Rs 13.90.

At the NSE, the scrip soared 8.66 percent to Rs 13.80.

The company's market value rose by Rs 317.27 crore to Rs 4,367.27 crore.

On the volume front, 58.94 lakh shares of the company changed hands at the BSE, while over two crore shares were traded at the NSE during the day.

Senvion SE has signed four contracts for nearly 64 MW wind power projects in the UK. Three of them are repeat orders.