Sterling and Wilson Solar shares on Monday jumped 17 per cent after Mukesh Ambani-led Reliance Industries Ltd agreed to buy up to a 40 per cent stake in the Shapoorji Pallonji Group firm. Sterling and Wilson Solar shares zoomed 17 per cent to its 52-week high of ₹509 on BSE. It jumped 17 per cent to its 52-week high of 509.10 on the National Stock Exchange (NSE). Shares of Reliance Industries gained 2 per cent to its record high of ₹2,724.70 on BSE.
Reliance New Energy Solar Limited (RNESL), a wholly-owned subsidiary of Reliance Industries, on Sunday announced the agreements with Shapoorji Pallonji and Company Private Ltd (SPCPL), Khurshed Daruvala and Sterling and Wilson Solar Limited to acquire a 40 per cent stake in Sterling and Wilson Solar Ltd in a multi-stage transaction for about ₹2,845 crore.
