Suzlon Energy to get $14 million FII boost from MSCI rejig after 386% returns in one year
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Synopsis
Suzlon Energy's shares are poised to receive a $14 million boost from passive inflows due to increased weightage in the MSCI global standard index, as per Nuvama report.
Shares of Suzlon Energy have gained 396% in the last one year and increased by 6% in the current calendar year so far. Meanwhile, the FII holding in the stock has also increased from 17.83% as of the December 2023 quarter to 19.57% at the end of March 2024.
The number of FII/FPI investors in the company also increased to 574 in the March 2024 quarter from 464 in the preceding quarter.
Besides Suzlon, the weightage of AU Small Finance Bank, Vedanta, Macrotech Developers, Zomato, Polycab, Samvardhana Motherson and Yes Bank have been increased in the index.
The shares of Suzlon were trading 2% higher at Rs 41 on BSE today around 11:45 am.
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