Suzlon plunges 5%; promoters offload 2% stake

The stock touched a low of Rs 75.90 and finally ended down 5% at Rs 76.75. Around 21 million shares were traded on the BSE today. 
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(Updated at 1326 hrs)

Suzlon has slumped over 6% from the day's high amid heavy volumes on the BSE.

The stock opened up Rs 2 at Rs 82, and touched a high of Rs 82.4. However, the stock then slipped into red to a low of Rs 77.10.

The stock is currently trading at Rs 78.35, down 3%. The counter has clocked heavy volumes of around 13.22 million shares on the BSE so far.

According to a release issued by Suzlon to the exchanges, the promoters have offloaded 2% stake, around 30 million shares today. Following which, the promoters holding now stands reduced at 63.82% of the total paid-up capital.

The release added, that details of the stake sale would be announced later in the day.

The deal seems to be executed on the NSE, the counter had logged a heavy volume of around 66.69 million shares.