Suzlon Energy tanks 24% after report says deal with Vestas could fall apart

Suzlon has been reeling under debt worth Rs 7,000 crore and was looking to sell the promoters' stake to pay off the debt.

Shares of Suzlon Energy tanked as much as 24.47 per cent to Rs 3.95 intra-day during the afternoon deals on the BSE on Monday after reports suggested that the electrical equipment manufacturer could not crack a deal with Danish firm, Vestas Wind Energy, for stake sale.

At 1:45 pm, the stock was quoting Rs 4.43 per share, down 15.13 per cent, against a 0.3 per cent rise in the benchmark S&P BSE Sensex. The S&P BSE500, on the other hand, was up 0.2 per cent. Suzlon Energy is one of the constituents of the index. 

According to a report by