Sterling and Wilson Solar could be a big gainer in todays session; know why!

On an MTD basis, the stock is up by nearly 33 per cent while on a YTD basis, it is up by 59.52 per cent.

The stock of Sterling & Wilson Solar (SWSOLAR) is likely to be in the action on Thursday as the board of directors had earlier granted an extension to the promoters up to September 30, 2021, to facilitate funding for the repayment of the outstanding loan.   

The company has informed via a press release that the promoters, i.e. Shapoorji Pallonji & Company Private Limited and Khurshed Daruvala have facilitated the repayment of the balance outstanding loans along with further interest accrued till date, by Sterling & Wilson Private Limited as well as its subsidiary Sterling and Wilson International FZE to the Company and its subsidiary Sterling and Wilson International Solar FZCO respectively. With this, the entire outstanding loans of Rs 2,563 crore as of the date of listing of the company’s equity shares on the stock exchanges along with all further interest accrued to date stands repaid in full.  

The stock had hit a fresh 52-week high on Wednesday. It registered gains of over 6 per cent and settled at Rs 412. On an MTD basis, the stock is up by nearly 33 per cent while on a YTD basis, it is up by 59.52 per cent.