Sterling and Wilson Renewable stock rises 2.5% after Rs 1,192 crore large deal

Trading volumes in the counter were also significantly higher as three crore shares already changed hands so far.

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Shares of Sterling and Wilson Renewable Energy rose 2.5 percent on September 27 after a large deal worth Rs 1,192 crore took place on the bourses. As many as 1.90 crore shares of Sterling and Wilson, making up 8 percent equity changed hands in a large deal, at a floor price of Rs 629 per share, reflecting a slight discount from the previous closing price.

Moneycontrol could not immediately ascertain the buyers and sellers involved in the transaction.

At 11.15 am, shares of Sterling and Wilson Renewable Energy were trading at Rs 654.90 on the NSE. Trading volumes in the counter were also significantly higher as three crore shares already changed hands so far, a meteoric rise from the one month daily traded average of 14 lakh shares.

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Earlier this week, Bahadur Dastoor resigned as Chief Financial Officer (CFO) of the company, effective September 21. The company is a pure-play global solar EPC and O&M service provider.

Anand Rathi Stock and Stockbrokers estimates RIL’s plan to set up 100 GW renewable energy capacity (predominantly solar and battery storage) by 2030 to meet its net-zero goal to offer EPC opportunities of Rs 1.1 lakh crore over FY26-31, with around Rs 30,000 crore for Sterling and Wilson, and O&M services of nearly Rs2,400 crore.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.