Suzlon Energy to issue shares

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INDIA'S GDP GROWTH IN FY'10 MAY BE 6.3% ON WEAK MONSOON
FY'10 GDP GROWTH SEEN AT 5.5% IN WORST CASE SCENARIO
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PFRDA BILL LIKELY TO COME UP IN THE WINTER SESSION OF PARLIAMENT
TO INCREASE CORUS CAPACITY USE TO 100% BY MARCH NEXT YEAR
CORUS UNIT RAN AT 80% CAPACITY IN OCTOBER
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SHIPPING MARKET TO POST A TURNAROUND SOMETIME IN 2011
OCT FLAT PRODUCT OUTPUT AT 296,000 TONS VS 248,000 TONS (YOY)
OCT CRUDE STEEL OUTPUT AT 453,000 TONS VS 338,000 TONS (YOY)
TO RAISE METAL PRICES BY RS.1000/TN
CUT FLAT PRODUCT PRICES BY RS.750-1500/TONNE THIS MONTH
PRICES TO STABILISE AT CURRENT LEVELS; SAIL OCT SALES UP 30% (YOY)
HAVE SHIFTED FOCUS FROM DEFENSIVES TO RATE SENSITIVE SECTORS
SEE NIFTY TOUCHING 5200 LEVELS IN SHORT TERM
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NEW SC PANEL TO BE CONSTITUTED, HEARING TO START FROM NOV 5
JUSTICE RAVEENDRAN RECUSES HIMSELF FROM RIL RNRL CASE
UTTAR PRADESH TEMPORARILY BANS IMPORTS OF RAW SUGAR : AGENCIES
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BULLISH ON DEFENSIVE SECTORS INCLUDING IT, FMCG AND AUTO
RIL TRADING AT 15-18X PE LOOKS COSTLY; SEE SCOPE FOR MORE CORRECTION
REAL ESTATE AND TELECOM STOCKS LIKELY TO BREAK THEIR MARCH LOWS

Updated: 29/06/2009 | 12:00 AM IST

Power

Capital Market

Monday, June 29, 2009 (New Delhi)

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The board of Suzlon Energy has approved the issuance of equity shares and / or FCCB and / or GDR and / or IDR and / or FCD and / or such other equity linked instruments and / or any other instruments and / or combination of instruments to an extent of Rs 5,000 crore.

The board has also approved the increase in the ceiling limit on total holdings of foreign institutional investors / SEBI approved sub-account of foreign institutional investors from 24% to 49% of the paid-up equity share capital of the company.

It has also been approved to seek the approval of members for the implementation of employee stock option plan-perpetual-I.

This was approved at the board meeting held on 27 June 2009.