Sterling & Wilson up 5% on partial loan repayment by SP Group, pares later

In December 2019, the company said the unforeseeable and lesser-than-expected realisation from the IPO led to significant and rapid deterioration in the credit markets, resulting in a liquidity crisis

Shares of Sterling and Wilson Solar inched up 5 per cent to Rs 338.25 per share on the BSE on Wednesday after promoters, Shapoorji Pallonji (SP) Group, partially repaid loans worth Rs 750 crore, thereby taking the cumulative repaid loan amount to Rs 1,000 crore, on Tuesday.

At 9:47 am, the stock had pared most of its early morning gains and was trading half a per cent higher at Rs 324.05. On December 3, Sterling and Wilson Solar had slipped 0 per cent to trade at Rs 256 -- its lowest level since listing on the BSE on August 20, 2019.