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Surana Solar shares have plunged over 32 per cent in last two trading sessions following reports that it was not the ace investor Rakesh Jhunjhunwala but a namesake who bought shares worth Rs 2.56 lakh in the company from open market.
At the end of today’s trading session, the stock was quoted 20 per cent down at Rs 35.80.
The scrip had suffered a similar fate on June 10 as well and slumped over 15 per cent to Rs 44.75 on the BSE.
As per the data on the bourses, Rakesh Jhunjhunwala had bought shares worth Rs 2.56 lakh in Surana Solar at an average price of Rs 53.74 apiece in a bulk deal on NSE on June 9, 2015.
But later, it was known that the deal was not done by him but his namesake and this triggered the sell-off in the counter.
As the news went viral, investors started dumping the shares on Wednesday and the sell—off continued today as well.
Surana Solar Limited, formerly known as Surana Ventures Ltd, manufactures solar energy systems with focus on Solar Photovoltaic PV Modules.
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