Suzlon Energy shares crashed 22% in 5 sessions; more pain likely for this renewable energy player
Suzlon Energy Ltd shares continued their downward move for the fifth straight session in Wednesday’s trade. The stock slumped 9.26 per cent to hit a day low of Rs 53.89. At this price, it has cracked 22.25 per cent in five trading days.
A few analysts largely remained ‘negative’ on the counter. “Suzlon, at current levels, is still trading at a premium valuation. All these renewable energy stocks have taken a beating post the re-election of Donald Trump in the United States. There is a negative sentiment around all these renewable energy companies and stocks, especially solar panel firms. Even though Suzlon is into wind but I think there is some more pain which is left in the stock,” Aditya Agarwala, Co-founder, Head of Research &…
