Stocks in Focus – Sterling and Wilson Solar promoters mulling over selling stake? Know why?
Stocks in Focus – Sterling and Wilson Solar shares – Some big development is emerging in the Sterling and Wilson Solar Limited. This Shapoorji Pallonji Group company has business interests in the renewable energy sector. The stock has been seeing good action for quite some time, though some profit booking was witnessed in this stock on Wednesday
Stocks in Focus – Sterling and Wilson Solar shares – Some big development is emerging in the Sterling and Wilson Solar Limited. This Shapoorji Pallonji Group company has business interests in the renewable energy sector. The stock has been seeing good action for quite some time, though some profit booking was witnessed in this stock on Wednesday.
The stock today ended at Rs 346.70 on the NSE, down by almost 0.5 per cent from the last closing price on Tuesday.
See Zee Business Live TV Streaming Below:
Senior Research Analyst at Zee Business Varun Dubey said that a lot was happening not just in the company but also in the Group.
The news has emerged that promoters Shapoorji Pallonji Group and Daruvala Family may sell their stakes in this company. There could be full exit or partial exit by them, the details of which will be known later, Dubey said.
Many Private Equity funds like Brookfield and CPPIB are in contention for the stake sale, he further said. There are big business houses as well, including Ambani and Adani Groups, talks to whom are ongoing, Dubey further said.
The promoters’ stake in the company is around 69 per cent out of which 37.24 per cent has already been pledged. While Shapoorji Pallonji’s stake is around 51 per cent, the share of Daruvala family is around 14 per cent.
The promoters are planning to sell their stakes to reduce debts at the Group level, he added.
There are plans to bring down the debts levels between Rs 3000-Rs 4000 cr by the end of this year.
The company has around 257 solar projects accounting for 11.4 Gw. The company has presence in 26 countries.
The approval of stake sale has been done as part of one-time restructuring process.
The Shapoorji Pallonji Group has been reducing its debts at least in this company. The company has managed to reduce its debts by over Rs 2450 cr in this company since the time of its listing. There are term loans of Rs 70 cr that are to be paid to the banks.
Watch Zee Business Tweet Video Below:
#SterlingAndWilson के प्रोमोटर की कंपनी में हिस्सा बिक्री की योजना
प्रोमोटर्स क्यों बेच रहे हैं कंपनी में हिस्सा?
कैसी है कंपनी की मौजूदा वित्तीय स्थिति? जानें यहां@AnilSinghvi_ @VarunDubey85
डाउनलोड करें Zee Business मोबाइल एप: https://t.co/n3bURESey1 pic.twitter.com/ELWzUXYaaz
— Zee Business (@ZeeBusiness) September 8, 2021
However, the talks are in initial stages as per any media reports, Dubey said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How soon will monthly SIP of Rs 6,000, Rs 8,000, and Rs 10,000 reach Rs 5 crore corpus target?
SBI Guaranteed Return Scheme: Know how much maturity amount you will get on Rs 2 lakh, 2.5 lakh, 3 lakh, 3.5 lakh and Rs 4 lakh investments under Amrit Vrishti FD scheme
SBI Senior Citizen FD Rate: Here's what State Bank of India giving on 1-year, 3-year, 5-year fixed deposits currently
SBI Senior Citizen Latest FD Rates: What senior citizens can get on Rs 7 lakh, Rs 14 lakh, and Rs 21 lakh investments in Amrit Vrishti, 1-, 3-, and 5-year fixed deposits
04:11 PM IST