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.