Suzlon Energy to be included in BSE Power index, BlackRock raises stake; stock surges 3%

Shares of Suzlon Energy surged three percent in trade on December 4 as the BSE is set to include the wind energy player in the S&P BSE Power index.

The changes will come into effect on December 18. “There are no changes to the S&P BSE Sensex 50 TMC (INR), S&P BSE TECK, S&P BSE CPSE and S&P BSE Consumer Durables indices,” the exchange said.

Further, global investment firm BlackRock increased its stake in the renewable energy solutions company to 5.01 percent from 4.99 percent. BlackRock bought 24.73 lakh equity shares in the company via open market transactions on November 30.

As of 9.20 am, Suzlon Energy was quoting Rs 40.5, higher by 2.7 percent on the NSE from the closing price of the previous session.

Last month, Suzlon was also added by Morgan Stanley Capital International in its MSCI Global Standard Index, along with 8 other stocks. After several years of consolidation, the stock has been on the buyers’ radar and turned out to be the multibagger in the current financial year, rising 415 percent. It touched a high of Rs 44 last week, the highest level since August 2011 and settled at Rs 39.40 on December 1.

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Asia Index, the 50-50 partnership between S&P Dow Jones Indices LLC and BSE, also announced changes in several indices on December 1 including S&P BSE Power, Auto, Metal, Capital Goods, Realty, and PSU. The reconstitution of indices like BSE 200, BSE 500, 150 Midcap, 250 Smallcap, 100 ESG, MidSmallCap, and 400 MidSmallcap index.

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