Sterling & Wilson Renewable executes ₹1,192 Crore block deal

27 Sep 2024 , 03:05 PM

Sterling and Wilson Renewable Energy shares surged 2.5% on September 27 after a big transaction for ₹1,192 Crore was completed on the stock exchanges. In a major transaction, up to 1.90 Crore Sterling and Wilson shares, accounting for 8% of total equity, changed hands at a floor price of ₹629 per share, showing a small decrease from the previous closing price.

At around 2.14 PM, Sterling & Wilson Renewable was trading 1.67% higher at ₹654, against the previous close of ₹642.45 on NSE. The counter touched an intraday high and low of ₹665, and ₹623, respectively.

Earlier this week, Bahadur Dastoor resigned as the company’s Chief Financial Officer (CFO), effective September 21. The company specialises in solar EPC and O&M services on a global scale.

According to Anand Rathi Stock and Stockbrokers, RIL plans to build 100 GW of renewable energy capacity (primarily solar and battery storage) by 2030 to meet its net-zero goal of offering EPC opportunities of ₹1.1 Lakh Crore over FY26-31, with Sterling and Wilson receiving around ₹30,000 Crore and O&M services worth nearly ₹2,400 Crore.

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