Suzlon Energy traded 1.1% lower at ₹64.06 at the time of writing in early trading on Thursday.
The decline in the share price came amid the Enforcement Directorate imposing a fine of ₹20 Lac on the renewables energy company.
The penaly was in relation to a delay in “realisation of certain export
proceeds for shipments made till FY2017,” Suzlon said in an exchange disclosure, adding that this marks an end to a “long standing legacy matter.”
The stock of the historically-troubled wind turbine manufacturer has skyrocketed since mid 2023, clocking as much as 1000% gains at one point before correction.
Suzlon is seeing increased interest from retail traders and investors amid hunt for play in the clean energy sector. The stock currently has a staggering price to earnings ratio of above 90 and a price to book ratio of 19.2.
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