Suzlon Energy was locked in lower circuit for the fifth straight day, down 5% at Rs 15.05 on Bombay Stock Exchange (BSE), after fresh equity shares following the conversion of the company's foreign currency convertible bonds (FCCBs) began to trade from Friday, September 19, 2014.
Suzlon Energy had allotted 270 million equity shares of Rs 2 each at a price of Rs 15.46 per share pursuant to conversion of FCCBs of the company.
Since 19th September, the stock has been locked at the lower circuit every single day. The stock slipped from Rs 22 to the present value over the last five trading sessions.
On the volume front, there are pending sell orders for as many as 19.3 million shares on the BSE.
