Sterling and Wilson Renewable shares extend gains to 2nd day

Sterling and Wilson Renewable shares have been in focus this week, after Reliance Industries executed an agreement to acquire a 40 percent stake in the EPC solutions provider from Shapoorji Pallonji and Company, a promoter of Sterling and Wilson Renewable Energy.

Oil-to-telecom conglomerate Reliance Industries' wholly-owned subsidiary, Reliance New Energy Solar, acquired 1.8 crore shares of Sterling & Wilson Renewable, in an off-market deal at Rs 375 apiece, for Rs 690 crore.

Post-acquisition, Reliance New Energy Solar holds a 25.16 percent stake in Sterling and Wilson Renewable Energy, and Shapoorji Pallonji and Company's stake has come down to 33.06 percent from 42.76 percent.

Sterling and Wilson Solar shares have risen 52.3 percent in one year, and 45 percent in the past six months alone. The benchmark Nifty50 index has gained 25 percent during this period.