CCI Luxembourg picks up 26.1% stake in Suryachakra Power arm; stock up 7%

MUMBAI: Shares of Suryachakra Power Corporation were in the limelight Monday. Lahari Power And Steels Ltd, a subsidiary of Suryachakra Power has been renamed to "Suryachakra Global Enviro Power Ltd with effect from March 19, 2010.

Furthermore, Climate Change Investment, Luxemburg (CCI) has entered into an agreement with Suryachakra Group for acquiring 26.1 per cent stake in Suryachakra Global Enviro Power Ltd, at Rs. 28.98 per share. Out of the total investment of Rs. 500.50 million, the first tranche of Rs 400 million has already been received. CCI has also committed to take part in the future renewable energy projects of the group.

Shares of the company were trading at Rs 20.85, higher by Rs 1.40 or 7.2 per cent from its previous close.