Sterling and Wilson Solar stock hits new low, tanks 42% in three days

The company said the promoters have requested to consider a revised repayment schedule for the balance loan outstanding amount.

Shares of Sterling and Wilson Solar (SWSL) were frozen in the lower circuit band for the third straight day, down 10 per cent at Rs 289 on the BSE on Tuesday, as the promoters failed to repay loan and requested the company to consider a revised repayment schedule for the balance outstanding amount.

In the past three trading days, the market price of SWSL tanked 42 per cent from Rs 501 on the BSE. The stock was trading at its lowest level since listing on August 20, 2019. It plunged 63 per cent against its issue price of Rs