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India’s Suzlon shares slump to record low

According to reports, shares in India’s Suzlon Energy Ltd fell as much as 5.4 percent to a record low on Friday after the wind turbine maker said its January-March net loss widened from a year ago.

Suzlon posted a net loss of 19.1 billion rupees ($339.59 million) in the previous quarter, compared to a loss of 3 billion rupees a year ago, in results out late on Thursday. The company’s board also approved the issuance of equity and equity-linked instruments of up to 50 billion rupees.

Suzlon shares were down 4.6 percent as of 0411 GMT.

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