Surana Solar slumps 20% on clarification of bulk deal

The stock had risen 10% yesterday on news that Rakesh Jhunjhunwala had made bulk purchase

Shares of Surana Solar slumped 19% to Rs 36 on the Bombay Stock Exchange (BSE) after media reports clarified that the bulk deal in the stock was not done by ace investor Rakesh Jhunjhunwala but by his namesake. CLICK HERE FOR FULL REPORT

Kolkata-based client of Rajkot-based Sun Flower Broking, Rakesh Jhunjhunwala, had purchased 2.56 lakh shares at an average price of Rs 53.74 per share in a bulk deal on NSE yesterday, 9 June 2015. The stock surged 10% post the news.

Surana Solar, formerly Surana Ventures, is an India-based solar company. The company is engaged in manufacturing solar energy systems with the focus on solar photovoltaic (SPV) modules.

The stock opened at Rs 36.60 and touched a low of Rs 36 on the BSE. At 9:35AM, a combined of around 7 lakh shares changed hands on the counter on NSE and BSE.