Suzlon Energy shares hit lower circuit for the third straight session

Suzlon Energy shares in Wednesday’s trade (November 22) hit a 5 per cent lower circuit for the third-consecutive day. At around 11:05 am, shares of the renewable energy company were locked in the lower circuit at Rs 37.32.

From the Friday’s close at Rs 42.3, the stock has slumped 12 per cent. The stock is among the top sold stock from the smallcap basket, as per the ICICI Direct report. Mutual funds reduced their holding from Rs 63.77 crore in the counter to 50.28 crore shares as of October.

The losses in the stock come as the investors’ meeting took place for the company on Tuesday (November 21, 2023).

“Please note that the Company’s IR presentation on the financials for the quarter and half-year ended 30th September 2023, as available on the website of the Company as well as on the website of the stock exchanges, would only be presented / discussed. And no other unpublished price sensitive information would be shared during the said meeting,” said the company’s filing with the exchanges.

In the previous week, on the company’s strong Q2 numbers and other strategic developments, the company logged its fresh 52-week high on November 17.