Based on the latest shareholding pattern updated by the company on the Bombay Stock Exchange (BSE), as many as 56.12 lakh retail shareholders, or those with authorised share capital up to ₹2 lakh held shares of Suzlon Energy at the end of the March quarter, in comparison to 54.09 lakh in December last year.
In percentage terms, retail investors now hold 25.12% stake in Suzlon Energy, compared to the 24.49% stake they held in the company at the end of the December quarter.
Foreign Portfolio Investors continue to maintain their stake in Suzlon Energy at around 23%.
However, India’s domestic mutual funds have trimmed some stake in the company during the March quarter. From 4.44% in December, that stake is now down to 4.17%.
HSBC Conservative Hybrid Fund, whose name featured in the December shareholding, with a 1.09% stake, does not feature in the March shareholding, which either means that the stake is now down below 1%, or the fund has made an exit from the stock.
Stake of India’s largest insurer, Life Insurance Corporation of India (LIC) remains constant at 1.03%.
Suzlon Energy shares fell 10% during the January – March period and are down 40% from their recent 52-week high of ₹86.
Last month, brokerage firm Motilal Oswal initiated coverage on Suzlon Energy with a “buy” rating and a price target of ₹70 per share, saying that the company is a bellwether play on India’s wind energy potential.
Shares of Suzlon Energy ended 3.5% lower on Wednesday at ₹51.23.
