Suzlon shares rise nearly 4% on hopes of Budget measures

Traders cited speculation that government may increase allocations towards renewable energy and reduce taxes in the 2015-16 Budget as the reason for the surge.

Abhishek Vishnoi   Mumbai     Last Updated: February 28, 2015  | 11:12 IST
Suzlon shares rise nearly 4% on hopes of Budget measures
(Photo: Reuters)

Suzlon Energy shares gained nearly 4 per cent on the domestic bourses on saturday on hopes of positive measures in Finance Minister Arun Jaitley's maiden full-year Budget.

Traders cited speculation that government may increase allocations towards renewable energy and reduce taxes in the 2015-16 Budget, due later on Saturday, as the reason for the surge.

The government had more than doubled spending on renewable energy in its Interim Budget for 2014-15.

The Union Budget for the forthcoming 2015-16 financial year is scheduled to be presented by Jaitley at 11:00 am.

UNION BUDGET 2015-16:Key highlights | Full coverage

(Reuters)

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