The Exchange has sought clarification from Suzlon Energy Limited with respect to recent news item captioned Tata Power, Suzlon sign 6,000 cr deal for 700 MW wind project in Andhra. The response from the Company is attached.
SUZLON · price
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Awaiting price reaction for this filing.
NSE and BSE asked Suzlon to clarify a media report claiming Tata Power and Suzlon had signed a Rs 6,000 crore deal for a 700 MW wind project in Andhra Pradesh. In response, Suzlon stated that there is currently no information or event requiring disclosure under SEBI's Regulation 30 listing rules. The company did not confirm or deny the deal outright, but indicated it would make necessary disclosures at the appropriate time if material developments occur. This is effectively a neutral, non-confirmation response from the company.
The lack of confirmation may disappoint investors who bid up the stock on the media report. However, the company has not denied the deal either, suggesting negotiations may still be at an early or non-binding stage. Watch for a future disclosure if the order is formally firmed up.