Suzlon hits new lows as it denies bankruptcy claim – Recharge Wind

Troubled Indian wind OEM Suzlon saw its shares fall to new lows as it denied as “baseless” reports that it is about to tip into bankruptcy.

Suzlon shares fell as much as 12% by early afternoon on Monday in Mumbai despite a statement to investors from the manufacturer strongly denying claims that it is poised to enter the jurisdiction of India’s National Company Law Tribunal (NCLT).

The Indian group’s shares plumbed new depths at 2.22 rupees – a far cry from the 28 rupees seen in 2015.

https://www.rechargenews.com/wind/1856921/suzlon-hits-new-lows-as-it-denies-bankruptcy-claim