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Last Updated : Feb 05, 2019 02:52 PM IST | Source: Moneycontrol.com

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

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

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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.

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“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.

Speaking to CNBC-TV18, management of Suzlon Energy clarified that the company has not defaulted on any loan over the past 4 years.

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First Published on Feb 5, 2019 02:51 pm
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