ET: Suzlon shares pare losses after 43% plunge on firm’s clarification

5 February 2019: Shares of Suzlon Energy wiped off some losses after it clarifies that the rumours about the company were baseless.

The company also appealed to the investors and stakeholders to not to believe in the same.

The scrip plunged as much as 43 per cent to Rs 2.70 during the day against the previous close of Rs 4.73. However, shares of the company pared some losses and closed 23.26 per cent down at Rs 3.63 . The BSE Sensex closed up 34.07 points, or 0.09 per cent, at 36,616.81 at around the same time.

In a BSE filing, Suzlon said, “We wish to clarify that the company is regular in servicing its debt obligations including servicing obligations towards banks and others for the month of January 2019.”

“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,” it said.

In a separate BSE filing, the company clarified that none of the shares of the promoters held in the company have been invoked. Further, the promoters’ shareholding in the company has been pledged for collaterally securing the obligations of the lenders of the company and not towards securing promoters’ personal borrowings. And the said pledge too is not mark-to-market.

The company is slated to announce its financial results on February 7.

The Economic Times reported


Categories: General News

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