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Suzlon Energy shares falls 43pct on fears of loan default

Power News - Published on Thu, 07 Feb 2019

Image Source: The Hindu Business Line
Economic Times reported that Suzlon Energy tumbled as much as 43 per cent on the BSE on Tuesday on speculation the company has defaulted on its loans. The stock cut a portion of its losses, ending 23.6 per cent lower, after the renewable energy manufacturer, which has one of the highest retail shareholder base, clarified dismissed the rumours.

Suzlon said in a release to the stock exchanges that “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. The rumours about the company are baseless and we appeal to all the investors and stakeholders to not to believe the same.”

Mr Paras Bothra, head of research, Ashika Stock Broking said that “There were several rumours floated around like loan default and sale of pledge shares by the lenders.”

Source :

Posted By : Rabi Wangkhem on Thu, 07 Feb 2019
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