Suzlon shares fall by more than 1.2 pc

Suzlon Energy, the world's third-biggest wind turbine maker, said on Tuesday the initial conversion price of $150 million convertible bonds was set at 54.01 rupees per share.

The issue of bonds is also subject to an upsize option of up to $50 million, which has not been exercised as on date, the company said in a statement to the exchange.

On Monday, the company had said it would issue foreign currency convertible bonds, due in 2016.

ET Now spoke to Sudarshan Sukhani, Technical Trends on Suzlon, here is what he had to say:

Sudarshan Sukhani: It is a buy for long-term investors, it is a buy for short term traders. It is just breaking out.