On Thursday, the company shares closed at ₹42.55 apiece, up 3.28 percent from the previous close price on the National Stock Exchange. The company has a market capitalization of ₹57,849 crores.
The shares touched a 52-week high price of ₹ 45.7 apiece on 15th January 2024. Suzlon Energy Ltd., an end-to-end wind power solutions supplier in India, manufactures wind turbine generators, power generation, and related equipment.
In the December quarter, mutual funds reduced their holdings in Suzlon Energy. Domestic mutual funds trimmed their stake in Suzlon to 1.33% by the December quarter’s end, from the 4.7% stake they held at the end of the preceding September quarter, according to BSE data.
In the September quarter, Bandhan Core Equity Fund had a 1.23% stake in Suzlon, but by December, the mutual fund either exited the stake or reduced it to below 1%.
Furthermore, the Bank of Baroda, a PSU bank that held a 1.05% stake in the firm in the September quarter, did not appear in the December quarter shareholding pattern or the bank exited its entire stake.
On the contrary, foreign institutional investors grew their position in the firm by 6.95%, from 10.88% in the September quarter to 17.83% in the December quarter.
BlackRock, the world’s largest asset management company, which manages nearly $10 trillion globally, currently holds 5% of the company through various funds, including iShares Global and iShares Global Clean Energy ETF, each holding a 1.41% and 1.09% stake, respectively.
Suzlon Energy shares have delivered a multi-bagger return of 106 percent in the last six months and 328 percent in a year.
The company’s revenue fell 1.3 percent year on year, from Rs 1,438 crore in Q2FY23 to Rs 1,421 crore in Q2FY24. The company’s net profit has climbed by 82 percent, from Rs 56 crore to Rs 102 crore, and its debt-to-equity ratio is 1.73.
As per the recent shareholding pattern, the company promoter holds a 13.28 percent stake in the company, Foreign Institutional Investors hold a 17.83 percent stake and Domestic institutional Investors hold 6.16 percent.
Written by Omkar Chitnis
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