India's Sterling and Wilson Renewable drops as promoters plan stake sale

Sterling and Wilson Renewable Energy

20/12/2022 05:18

** Shares of Sterling and Wilson Renewable Energy  STEN.NS 
fall as much as 2.9% to 275.3 rupees, lowest since Nov. 24
    ** Promoters will sell up to 5.27% stake in co through an
offer for sale at a floor price of 270 rupees per share, a 4.8%
discount to Monday's close
    ** Khurshed Yazdi Daruvala and Shapoorji Pallonji Company
plans to sell a 1.58% and 3.69% stake, respectively, in the co
    ** Sale to take place Tuesday, Wednesday
    ** More than 388,000 shares trade as of 10:32 a.m. IST vs
30-day avg of 227,008 shares
    ** Up to last close, stock down 25.9% YTD
 (Reporting by Aleef Jahan in Bengaluru)
 ((AleefJahan.cs@thomsonreuters.com))