Suzlon Energy shares hit 5% lower circuit after 7 days non-stop rally

After seven straight sessions of gains, shares of Suzlon Energy hit a 5% lower circuit at Rs 17.5 in Wednesday’s intra-day trade ahead of the board of directors’ meeting on Friday, 7 July, to consider and approve the capital raise within a year of rights issue. Before hitting today’s lower circuit, the stock rallied 35% in the last seven days.

“A meeting of the Board of Directors of the Company will be held on Friday, 7 July 2023 to consider and approve capital raising by way of one or more or combination of permissible methods, and seeking approval of the shareholders, if required,” Suzlon Energy said in an exchange filing on Tuesday.