Suzlon share price rebounds after over 40% fall on firm’s clarification

Suzlon Energy share price rebounded after crashing on Tuesday after the firm issued a clarification to exchanges saying that the company is regular in servicing its debt obligations towards banks for the month of January 2019 and any rumours about the company are baseless. Suzlon Energy shares tanked 43 per cent to hit the day’s low at Rs 2.70 in the afternoon trade.

The shares pared some losses and ended the day down 24 per cent at Rs 3.60.

“The rumours about the Company are baseless and we appeal 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,” Suzlon Energy said in a statement to the stock exchange.

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

Meanwhile, while Sensex ended the day 34.07 points higher at 36,616.81, Nifty climbed 22.10 points to 10,934.35.

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