Suzlon Energy shares were acquired by these two Mutual Funds in November – CNBC TV18

Shares of Suzlon Energy Ltd., the wind energy solutions provider were acquired by two Mutual Funds in the month of November, according to data from Nuvama Alternative & Quantitative Research.

In a report released on Wednesday, Nuvama Alternative said that Suzlon Energy’s shares were acquired by HDFC Mutual Fund and Mirae Mutual Fund in the month of November.

Based on the September shareholding pattern, neither of the two funds had a stake in Suzlon back then. In case they did, it would be less than 1% of the total equity as their names do not feature in the public shareholding data.

As of September, 28 funds had a 4.14% stake in Suzlon Energy. Foreign Portfolio Investors had a stake over 23%, while the company had nearly 50 lakh small shareholders, who now own 23.55% stake.

Belgrave Investment Fund also has a 1.87% stake in the company.

In an interaction with CNBC-TV18 on November 21, Suzlon Group CEO JP Chalasani said that the current order book of over 5 GW is the highest ever for the company and will be executed over the next 18-24 months.

Chalasani also said that Suzlon will continue to grow at a higher growth rate than it has in the past, without specifying a number.

Last month, Morgan Stanley had upgraded shares of Suzlon Energy back to “overweight”, saying that the steep correction seen in the stock price from its peak are opportunities to buy.

Shares of Suzlon Energy ended 0.7% lower on Wednesday at ₹66.07. The stock is down 23% from its peak of ₹86 but has risen 71% so far in 2024.