Suzlon Energy share price hits 5% lower circuit in morning trade as selling pressure continues. Suzlon Energy stock witnesses profit booking after steep gains in recent months.
Shares of Suzlon Energy Ltd snapped their five-session winning run amid weak sentiment in the broader market in early trade today. The stock gained 13.26% since the November 9 close of Rs 37.32 on BSE. The stock has been rallying amid news that it could enter AMFI's midcap category in the January rejig. Another trigger behind the rally last week was the news that Suzlon Energy was likely to be included in the MSCI Global Standard Index during its upcoming rejig on November 15. The renewable energy scrip was included in the index last week.
After the rebalance, the number of domestic stocks on the Standard Index will rise to 131, and India s weight on it could rise to 16.3%, up from the current 15.9%.