Suzlon slips 3% on treasury stake sale

The stock finally ended near the day's low with a loss of 2.5% at Rs 92. The counter witnessed trades of 13.07 million shares on the BSE today.
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(Updated at 1101hrs)

Suzlon has slipped for the second straight day following a treasury stake sale.

The stock opened at Rs 94 and slipped 3% to touch a low of Rs 92 and is now trading at the same level. Over 4.16 million shares have been traded on the counter so far.

The stock has slipped 4% to Rs 97 yesterday as news of the stake sale came.

The promoters offloaded around 70 million shares of their holding, representing 4.5% of their total stake in the company. The promoters have managed to raise about Rs 678 crore at Rs 96.85 per share. The total promoter group shareholding in the company has now come down to about 53.08%. The company had planned to sell 50 million shares initially but raised teh offer to 70 million.