Suzlon Energy stock slumped in the Monday trading session after its Independent Director, Marc Desaedeeler quitted after raising red flags in the corporate governance in the company.
Suzlon Energy stock traded with 3.9 per cent loss at Rs 47.95 in the afternoon session on the National Stock Exchange (NSE).
"Several situations occurred where the corporate governance standards applied by the company did not meet my expectations including situations where communications lacked the level of openness and transparency I would have liked to see," Desaedeleer said in the resignation letter.
Recently, rating firm CRISIL retained its ‘A’ long-term rating and ‘A2+’ short-term rating on the renewable energy firm’s bank loan financing while retaining a positive outlook.
In terms of stock performance, the Suzlon Energy stock delivered nearly 25 per cent return in 2024 so far.
