Suzlon Energy dives 28% on debt default rumors; management clarifies

Shares of Suzlon Energy touched lower circuit and also hit its 52-week low at Rs 2.70 on the BSE on February 5 after rumours of a debt default surfaced.

At 1430 hours, the stock was down 27 percent and was trading at Rs 3.45.

The management clarified in a press release that rumours were baseless and appealed to all the investors and stakeholders to not to believe the same.

“We are currently under silent period for declaration of financial results for the quarter ended December 2018 and hence cannot comment further; however, wish to submit that the Company is committed towards compliance of the Listing Regulations and would ensure necessary disclosures as and when applicable,” said the release.