India's Swelect Energy Systems rises on divestment of unit stake

Swelect Energy Systems

11/10/2023 09:04

** Shares of Swelect Energy Systems  SWEL.NS  up as much as
5.5% to 624 rupees 
    ** Solar power projects manufacturer and trader approved
divestment of 100% stake in unit Amex Alloys; deal at enterprise
value of 1.10 bln rupees ($13.2 mln)
    **  Amex had turnover of 329 mln rupees as of March 31
    ** Over 58,000 shares change hands as of 01:31 p.m. IST,
0.5x the 30-day moving avg 
    ** Including day's move, stock up ~84% YTD
    


($1 = 83.1596 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))