Sterling and Wilson close to high

Two days ago, Sterling and Wilson was locked at its 5% UC after it reported successfully raising Rs.1500 crore through a Qualified Institutions Placement (QIP) and the money raised was to be utilized to reduce debt and capitalize on solar EPC opportunities in India and abroad.

And the news of today, following which the stock once again the stock price rose 5% at Rs.441.15, was that of promoter, Shapoorji Pallonji and Company selling 39,14,279 equity shares or 2.06% stake in the company through open market transactions at a price of Rs 415.46/share. Plutus Wealth Management LLP bought 25 lakh shares or 1.3% at a price of Rs 410 per share at the same time.

Post this, Shapoorji Pallonji’s holding has come down to 16.24% from 18.3% held earlier. Total promoter holding currently stands at 65.50%.

The unexecuted order book of the company, as of September 30th, 2023, stood at Rs.6835 crore.