Suzlon Energy hits year low on BSE

Continuing its losing streak post poor quarter results, shares of Suzlon Energy today tumbled over 2 per cent to touch an year's low on BSE in early trade.

Shares of the wind turbine maker plunged 2.05 per cent to a 52-week low of Rs 50.15 on the Bombay Stock Exchange.

"The company's order book execution is not strong due to which it continues to post poor results every quarter. The bad numbers are dragging the stock down," Ashika Stock Brokers Research Head Paras Bothra said.

The scrip closed at Rs 56.45 on August 13 -- the day it came out with its April-June quarter numbers.

Since then, the stock has fallen over 11 per cent to Rs 50.15. The company had reported a loss of Rs 912 crore for the quarter ended June 30 on account of lower sales and a notional foreign exchange loss of Rs 250 crore. Suzlon had suffered a net loss of Rs 453 crore in the same period last fiscal.

Witnessing a similar downtrend on the National Stock Exchange, the scrip fell to Rs 50.15, down 1.95 per cent from previous close.

Meanwhile, the BSE-30 benchmark Sensex was trading firm at 18,135.83 points, up per cent from previous close.