Promoters sell stake in Sterling and Wilson

MUMBAI: Promoters Shapoorji Pallonji and Co and Khurshed Yazdi Daruvala sold shares of Sterling and Wilson Renewable Energy worth Rs 1,039.88 crore in a bulk deal on NSE on Friday. They sold 1.66 crore shares between Rs 623 and Rs 630. Shapoorji Pallonji owned a 12.73% stake in the company and Khurshed Yazdi Daruvala held a 1.48% stake as on June 30.

Morgan Stanley Asia Singapore Pte, Citigroup Global Markets Mauritius and Societe Generale were among some of the buyers in the deal. Shares of Sterling and Wilson rose 1.63% to close at Rs 652.90 on Friday.