Suzlon Energy to get $14 million FII boost from MSCI rejig after 386% returns in one year
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.
of multibagger smallcap will get a boost of $14 million from as the is set to gain more weightage in the global standard .A report by states that the stock is likely to attract inflows worth $14 million in passive funds from through an estimated purchase of 28.4 million shares as a result of the MSCI reshuffle.
Shares of have gained 396% in the last one year and increased by 6% in the current calendar year so far. Meanwhile, the 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 , , , Zomato, Polycab, Samvardhana Motherson and Yes Bank have been increased in the index.
The shares of were trading 2% higher at Rs 41 on BSE today around 11:45 am.
The company had recently announced the merger by absorption of Suzlon Global Services, a wholly-owned subsidiary of the company, with Suzlon Energy.
India's increase in weight from 18.3% to closer to 19% is the highest among any EM Index in this rejig in terms of basis points. Amid a sustained bull run on Dalal Street, the country’s weightage in the MSCI EM index has catapulted from a mere 8% in 2020 to around 19%.
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Source: Stocks-Markets-Economic Times
