India's Sterling and Wilson rises to nearly two-year high

Sterling and Wilson Renewable Energy

11/12/2023 10:25

** Shares of Sterling and Wilson Renewable Energy  STEN.NS  
rise 5% to hit upper circuit at 423.2 rupees, highest price
since Jan. 17, 2022
    ** Stock of engineering, procurement and construction (EPC)
solutions provider rose 46.4% in the last five weeks
    ** Co says its lenders, including Union Bank of India
 UNBK.NS , have approved a resolution plan proposed by co 
    ** It is not immediately clear what the resolution plan is
for 
    ** Trading vol is 1.8x the 30-day daily avg; volumes above
1.8 mln for third straight session
    ** Stock extends YTD gains to ~58%, on track for biggest
yearly gain since its listing in 2019




 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))