city Mumbai covid-19 city Mumbai

Sterling and Wilson gains after Shapoorji's deal with KKR to sell solar assets

Reading now: 231
www.livemint.com

MUMBAI : Shapoorji Pallonji group company Sterling and Wilson Solar Ltd, which has been in the middle of a storm since the promoters delayed repaying loans owed to the company, has seen its share price hit the upper circuit in two consecutive trading sessions.

Shares of the company edged higher after the group on Monday announced a deal to sell 317 megawatts of solar assets to private equity firm KKR for a Rs1,554 crore.

As of 11.10 AM, Sterling and Wilson Solar shares were trading at ₹166.05 apiece on the BSE, up 5% from the previous close. On Monday too, the stock closed 5% higher.

The positive investor sentiment stems from the hope that the promoters will be able to deleverage the group balance sheet with such asset monetizations.

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA