Meanwhile, the S&P BSE Sensex was down 280.46 points or 1.04% at 26,560.04.

The stock slumped on heavy volumes. On BSE, so far 3.27 lakh shares were traded in the counter as against average daily volume of 89,732 shares in the past one quarter.

The stock hit a high of Rs 39.20 so far during the day. The stock had hit a 52-week low of Rs 11.50 on 10 June 2014. The stock had hit a record high of Rs 83.80 on 12 February 2015.

The stock had underperformed the market over the past one month till 10 June 2015, sliding 25.66% compared with Sensex's 0.98% fall. The scrip had also underperformed the market in past one quarter, declining 33.95% as against Sensex's 6.51% fall.

The small-cap company has equity capital of Rs 24.60 crore. Face value per share is Rs 5.

Shares of Surana Solar had fallen 15.65% to settle at Rs 44.75 yesterday, 10 June 2015. In intraday trade, the stock had rallied 18.94% at the day's high of Rs 63.10. It had fallen 19.98% at the day's low of Rs 42.45 on that day.

It may be recalled that the data on the National Stock Exchange (NSE) on Tuesday, 9 June 2015, showed that Rakesh Jhunjhunwala bought 2.56 lakh shares of Surana Solar at an average price of Rs 53.74 per share in a bulk deal on NSE on 9 June 2015.

Surana Solar's net profit jumped 496.6% to Rs 1.73 crore on 23.2% decline in net sales to Rs 25.38 crore in Q4 March 2015 over Q4 March 2014.

Surana Solar, formerly Surana Ventures, is an India-based solar company. The company is engaged in manufacturing solar energy systems with the focus on solar photovoltaic (SPV) modules.