The reports of Suzlon Energy's promoters offloading stakes plunged the company's stocks by 4.76% to Rs 96 on the bourses. News was aired during trading hours today that promoters divested 4.50% stake in the large-cap wind turbine maker, causing a sensation among the investors.

Around 7 crore equity shares of the company at undisclosed rate were divested by promoters Nidhi T Tanti, Brij J Tanti and Girish R Tanti on 23 September. Current holding of promoters has now reduced to 53.08% of the paid-up capital, as compared to their holdings of 59.82% as on 30 June 2009.

The stock hit a 52-week high of Rs 225.70 on 19 September and a 52-week low of Rs 33.05 on 12 March. Meanwhile, the BSE Sensex declined 0.66% to 16775 in the midst of mixed response to the market.

Suzlon Energy's stock rose 12.27% up to the past one month till 18 September, against 11.35% rise in Sensex. However, stock declined 1.19% in the past one quarter, against 17.35% rise in the Sensex.

The turbine-maker posted a loss of Rs 160.47 crore in the first quarter, as compared to a net profit of Rs 88.04 crore in the same period last year.