Suzlon Energy subsidiary signs contract with German company

Wind turbine-maker Suzlon Energy Ltd's said its unit REpower Systems signed a contract with German wind farm project developer Denker & Wulf, for the delivery of 22 wind turbines to a new project in Mecklenburg-Western Pomerania. No financial details were provided.

The REpower 3.4 M104 turbines, each with a rated output of 3.4 MW, are intended for the Hohen Luckow project southwest of Rostock. The 74.8 MW project will be constructed by 2012. The contract includes a 15-year integrated service package which covers project servicing and maintenance, in addition to delivery and installation of the turbines. 

On Wednesday, Suzlon Energy shares shed 1.8% to Rs52 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.7% to 19,956 points.

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Lupin subsidiary buys majority stake in Generic Health

Pharma company Lupin Ltd said its Netherlands-based subsidiary Lupin Holdings acquired a majority stake in the Generic Health by subscribing to the right issue for an undisclosed sum. Following the deal Generic Health has become its subsidiary, Lupin said in a regulatory filing.

Earlier, Lupin Holdings had 49.9% equity stake in Australia-based Generic Health.

On Wednesday, Lupin shares closed 1.6% down at Rs388 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.7% to 19,956 points

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Shree Renuka Sugars buys 7% additional stake in NCDEX for Rs38 crore

Karnataka-based Shree Renuka Sugars Ltd said it increased its stake in National Commodity and Derivatives Exchange Ltd (NCDEX) to 12% from 5% by purchasing 26.3 lakh equity shares of the bourse from CRISIL for over Rs38 crore.

Shree Renuka Sugars said it bought the shares at Rs145 per share, amounting to Rs38.1 crore.

CRISIL, the unit of ratings agency Standard & Poor's (S&P) had to reduce its stake in NCDEX to 5% from 12% by September as per the guidelines of the Department of Industrial Policy and Promotion (DIPP). The government has made it must for any foreign entity to limit its stake in a commodity exchange to 5%.

Shree Renuka Sugars exercised its right of first refusal and purchased a 7% stake in NCDEX from CRISIL, it said in a filing to the Bombay Stock Exchange (BSE).
CRISIL is the Indian arm of global ratings agency Standard & Poor's.
Earlier this year, Fidelity reduced its stake in MCX from 9% to 5% to meet DIPP norms.

On Wednesday, Shree Renuka Sugars shares ended 1.7% down at Rs85 on the BSE, while the benchmark Sensex declined 0.7% to 19,956 points.

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