Promoters Of Sterling And Wilson Renewable Offload Stakes Worth Rs 1,040 Crore
Citigroup Global Markets Mauritius, Morgan Stanley Asia Singapore and Societe Generale were among the buyers.
(Source: Company website)
Promoters of Sterling and Wilson Renewable Energy Ltd. sold on Friday a 7.13% stake for Rs 1,040 crore in the company through open market transactions.
Shapoorji Pallonji and Co. sold 1.35 crore shares or a 5.78% stake at Rs 623.28 apiece and Khurshed Yazdi Daruvala offloaded 31.5 lakh shares or a 1.35% stake at Rs 630.01 apiece, according to the NSE bulk data. Mansi Share and Stock Advisors Pvt. traded 12.13 lakh shares or a 0.52% stake at Rs 643.04 apiece.
Shapoorji Pallonji and Co. and Khurshed Yazdi Daruvala held 12.73% and 1.48% respectively in the company as of June 2024.
Citigroup Global Markets Mauritius Pvt. bought 25.65 lakh shares or 1.09%, while Morgan Stanley Asia Singapore Pte mopped up 20.25 lakh shares or 0.86% and Societe Generale obtained 20.1 lakh shares or 0.86% at Rs 623 apiece.
Shares of Sterling and Wilson Renewable Energy closed 1.18% higher at Rs 649.60 apiece on the BSE, compared to a 0.31% rise in the benchmark Sensex. The stock has risen 83.78% in the last 12 months and 50.05% on a year-to-date basis.
All five analysts tracking the company recommend 'buy, according to Bloomberg data. The average of 12-month analysts' price target implies a upside of 29.6%.
