Suzlon Energy again locked in 5% lower circuit, down 12% in 3 days

In the last one month, the stock has gained close to 18 percent, and also hit a 52-week high of Rs 44 last week.

Shares of Suzlon Energy Limited tanked 5 percent and were locked in a lower circuit at Rs 37.35 in the early trade on November 22 after witnessing selling pressure for the third consecutive session.

The scrip opened at Rs 38 and plunged 5 percent. In the last three trading sessions, the stock has tanked 12 percent. About four crore shares changed hands as against the one-week average of 15 crore shares.

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On March 28, the stock hit the lower circuit at Rs 6. Since then, the shares have surged over 300 percent, however, investors are now rushing to book profits.

In the last month, the stock has gained close to 18 percent and also hit a 52-week high of Rs 44 last week.

In the September quarter, the wind turbine manufacturer reported a 45 percent year-on-year jump in net profit to Rs 102 crore. Its revenue declined marginally to Rs 1,417 crore from Rs 1,430 crore in the year-ago period. The numbers remained positive despite the company incurring an exceptional loss of Rs 35 crore during the quarter.

Its earnings before interest, taxes, depreciation, and amortization (EBITDA) experienced a 32.6 percent increase to Rs 225 crore.

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