Mumbai: Shares of Suzlon Energy saw a strong recovery on Monday, April 13. The stock rebounded nearly 6 percent from its intraday low and moved into positive territory. It was trading around Rs 45.66, up about 0.5 percent–2.5 percent during the session.
The recovery came after the stock opened weak, with the day’s low at Rs 43.89. It later touched a high of Rs 46.41, showing strong buying interest at lower levels.
Renewable energy stocks support rally
The upward move in Suzlon shares was in line with gains seen across renewable and clean energy stocks. Positive sentiment in the sector helped Suzlon bounce back after early losses.
The stock has also gained in three out of the last four trading sessions, indicating improving short-term momentum.
Fresh entry by Motilal Oswal ETF
Suzlon recently shared its March quarter shareholding data. A key highlight was the entry of the Motilal Oswal Nifty India Manufacturing ETF into the company.
The ETF now holds a 1.05 percent stake in Suzlon. It was not listed among public shareholders in the December quarter, which suggests that the fund either increased its stake above 1 percent or took a fresh position.
Mutual funds and retail participation rise
Domestic mutual funds slightly increased their holding in Suzlon. Their total stake rose to 4.87 percent in March, up from 4.82 percent in December.
Retail participation also grew. The number of small shareholders increased to 56.26 lakh from 55.67 lakh earlier. These investors hold shares worth up to Rs 2 lakh each.
Retail shareholding rose to 26.67 percent, compared to 26.2 percent in the previous quarter, showing continued interest from individual investors.
Stock still below recent highs
Despite the recent recovery, Suzlon shares remain significantly below their peak. The stock is still down nearly 45 percent from its recent high of Rs 84.
With a market capitalisation of about Rs 62,700 crore and a P/E ratio of 19.47, the stock continues to attract both institutional and retail attention.
Disclaimer: This article is for informational purposes only and not investment advice. Stock market investments are subject to risks. Readers should consult certified financial advisors before making any investment decisions.
