Suzlon shares up 5 pct

Shares of Suzlon Energy rose more than 5 per cent after the company said it raised issue size of its foreign currency convertible bonds to $175 million from $150 million.

Separately,Bank of America Merrill Lynch said in a note that improving sales visibility at REpower (a 95 per cent subsidiary of Suzlon) and an expected 25 per cent annual growth rate till FY13 in the Indian wind markets are catalysts for Suzlon shares. Further,faster shift in production at REpower to low-cost India will aide its ability to cut prices without margin hit and scale-up in higher margin,said the U.S. investment bank. At 11.39 a.m.,the stock was up 3.75 per cent at Rs 55.35.