7 Reasons Why Suzlon Share Price is On the Rise
1. Mutual Fund Investments: Several mutual fund institutions are heavily investing in firms that have shown strong performance in the Indian stock market. Many mutual fund institutions have invested in Suzlon Energy Company, which has been experiencing rapid growth in recent months.
2. Decreased Stake by Domestic Mutual Funds: Domestic mutual funds have reduced their stake in Suzlon Energy Company by 1.33% in the December 2023 quarter. Previously, domestic mutual funds held a 4.7% stake in the company in the September 2023 quarter. This reduction suggests a change in investment strategy by domestic mutual funds.
3. Increased Share Price: On Wednesday, January 24, 2024, Suzlon Energy stock rose by 0.12% and closed at INR 41.20. This increase indicates positive market sentiment towards the company.
4. Reduction in Stake by Mutual Fund Companies: Bandhan Bank Equity Mutual Fund previously held a 1.23% stake in Suzlon Energy Company for the September 2023 quarter. However, their name has been removed from the recent shareholding list, indicating a decrease in their stake by more than 1%.
5. BlackRock’s Investment: BlackRock, the world’s largest asset management company, holds a 5% stake in Suzlon Energy Company through various mutual funds. With global assets worth $10 trillion, BlackRock’s investment in Suzlon Energy indicates its confidence in the company’s potential.
6. Investment by BlackRock’s Units: BlackRock Global and BlackRock Global Clean Energy ETFs have made significant investments in Suzlon Energy Company. These mutual funds held a 1.41% and 1.09% stake, respectively. This shows that renowned investment managers believe in the growth prospects of Suzlon Energy.
7. Order for Wind Turbines: In the December 2023 quarter, Suzlon Energy Company received an order to supply 3 MW wind energy turbines. The company is focusing on these turbines for future contracts, indicating a strong emphasis on renewable energy.
With these positive developments, Suzlon Energy Company is expected to continue its growth trajectory. The company has provided a 50% return to its investors in the October-December 2023 quarter, and its share price has increased by 200% in the past 12 months.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
