After a record rally in Suzlon, three major mutual funds bought shares of the company in August

Suzlon Energy shares have seen a 130 percent gain so far this year. This window energy company is among the best performing companies in the Nifty 500 index through 2023. The recent boom in the company’s shares has attracted the attention of many experts. JM Financial has currently added the stock to its coverage and has given it a “Buy” rating. The target price for the company’s shares till the end of 2024 has been kept at Rs 30.

However, three mutual funds bought Suzlon shares in August, according to mutual fund data released today. According to Accord Fintech data, two funds bought shares of the company for the first time, while one fund increased its stake.

ICICI Prudential Mutual Fund and HDFC Mutual Fund bought Suzlon shares for the first time, while UTI Mutual Fund increased its stake in the company. However, the information is not available at this time.

Which units have the most stake in Suzlon Energy?

According to the June quarter shareholding pattern, the company has a total stake of 4.98 percent of 17 mutual funds. However, his names are not disclosed in time, as his stack may decrease by 1 percent. Bandhan Core Equity Funds is the only listed mutual fund in this list. As of June 30, the fund’s stake in Suzlon was 1.32 percent.

The remaining shareholders of this company include IDFC Bank, Bank of Baroda and LIC. IDBI Bank has 1.34 per cent stake in the company, while Bank of Baroda has 1.11 per cent stake. LIC has 1.03 percent stake in this company.

Shares of Suzlon have gained nearly 30 percent since inception in August. At its 52-week high of Rs 27.05, the stock was up 42 percent from August. However, despite recent gains, the stock is far from its earlier levels. The company launched its IPO in 2006 at a price of Rs 510.

Source link

Leave a Comment