Suzlon Stock Price Will Remain On Investors Watchlist Today:
The share price of Suzlon Energy Ltd will remain in the spotlight on Monday after BlackRock Inc increased its stake in the company beyond 5%. Suzlon Energy shares closed 2.86% lower at Rs. 39.42 per share on Friday. At this price, Suzlon commands a market capitalization (full) of Rs 53,513.68 crore.
In an exchange filing on December 2, the company informed that Investment firm BlackRock Inc. has acquired about 24.73 lakh fresh equity shares in the renewable energy company. With the fresh acquisition of Suzlon shares by the investment firm, BlackRock’s aggregate holding has increased to 5.01% in Suzlon Energy.
As per the filing BlackRock has bought 24,73,442 shares (0.02% of total share capital) in Suzlon Energy, in addition to 68,02,13,598 shares (4.99% of the total share capital) already held in the company.
BlackRock now holds 68,26,87,040 shares (5.01% of the total shareholding) in the Suzlon Energy. Meanwhile, in a CNBC-TV18 interaction on Friday, Group Vice Chairman Girish Tanti reportedly said that the Wind turbine manufacturer Suzlon Energy’s promoters do not plan on raising their stake in the company as of now. Currently, the company’s promoters hold a 13.29% stake in the company and Tanti said there are no plans as of now to change the holding structure.
Suzlon Energy Share Price Performance:
In the last one year, Suzlon Energy shares have gained 335.58%, while in this year so far the stock is up 267.72%. The returns from the stock in the las 3-years and 5 years are up 1112.92% and 733.40% respectively. The company commands a market capitalization of Rs 53,513.68 crore. BlackRock Inc shares closed at $756.35 per share on Friday. As of September 30, BlackRock’s total assets under management (AUM) stood at $9.1 trillion.
About The Suzlon Group: The Suzlon Group is one of the leading renewable energy solutions providers in the world with ~20.3 GW* of wind energy capacity installed across 17 countries. Headquartered at Suzlon One Earth in Pune, India; the Group comprises Suzlon Energy Limited (NSE: SUZLON & BSE: 532667) and its subsidiaries. A vertically integrated organization, with in‐house research and development (R&D) centres in Germany, the Netherlands, Denmark, and India, Suzlon’s world‐class manufacturing facilities are spread across 14 locations in India. With over 28 years of operational track record, the Group has a diverse workforce of over 6,000 employees. Suzlon is also India’s No. 1 wind energy service company with the largest service portfolio of over 14.3 GW of wind energy assets. The Group has ~6 GW of installed capacity outside India. The 3 MW Series wind turbine technology platform is the latest addition to its comprehensive product portfolio.