Suzlon Energy share price dropped by 4% to a low of Rs 76.35 on the BSE after the company announced that it received advisory letters from the NSE and BSE. These letters raised concerns about the company’s corporate governance practices.
Also read: How many Upcoming IPOs in October 2024? Check The Full List!
The stock exchanges issued their warning letters following a disclosure made by Suzlon on June 8, 2024. The communication highlighted various issues regarding the company’s governance standards, indicating a perceived lack of openness and transparency in its operations.
The NSE noted that while Suzlon acknowledged the issues raised, there were several areas identified where the company’s governance could be improved. This revelation adds to ongoing concerns about Suzlon’s governance practices, even as the company works to address them.
Also Read: TCS to Unveil Q2 Results and Consider 2nd Interim Dividend on October 10, Click Here To Read More!
Recent comments from stakeholders indicated dissatisfaction with the company’s governance standards, suggesting that enhancements in communication and transparency are necessary to foster greater trust.
As a result, Suzlon is now facing increased scrutiny from stock exchanges regarding its governance practices, which may impact investor confidence and the company’s future performance.