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Sterling and Wilson Renewable Energy shares fall 4 pc – EQ Mag Pro

Sterling and Wilson Renewable Energy shares fall 4 pc – EQ Mag Pro

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Shares of Sterling and Wilson Renewable Energy on Friday dropped nearly 4 per cent after Shapoorji Pallonji and Company proposed to offload 1.25 pc stake in the firm.

The company’s shares fell 3.31 per cent to end at Rs 279.05 apiece on the BSE. During the day, stock opened on a muted note at Rs 280 and then slipped further to Rs 276.75, registering a fall of 4.10 per cent.

On the NSE, it tanked 4.22 per cent to settle at Rs 276.80 apiece.

In a regulatory filing on Thursday, Sterling and Wilson Renewable Energy said Shapoorji Pallonji and Company Pvt Ltd has proposed to sell up to 23,70,787 equity shares, having a face value of Re 1 each, representing 1.25 per cent of the total issued and paid-up equity share capital of the company.

Source: PTI
Anand Gupta Editor - EQ Int'l Media Network