Morgan Stanley Makes Strategic Stake Purchase in Sterling and Wilson Renewable Energy

Morgan Stanley has acquired a 1.5% stake in Sterling and Wilson Renewable Energy for Rs 103 crore. The transaction involved purchasing 36.44 lakh shares. Meanwhile, Goldman Sachs offloaded a 1.47% stake. Following these transactions, shares of the company fell 6% to Rs 294.75 on the NSE.

Morgan Stanley has strategically acquired a 1.5 per cent stake in Sterling and Wilson Renewable Energy Ltd, with the transaction valued at Rs 103 crore. This investment, conducted through Morgan Stanley Asia Singapore, highlights confidence in the growing solar EPC sector.

The purchase involved 36.44 lakh shares at an average price of Rs 282.20 apiece, according to data from the National Stock Exchange. This move by Morgan Stanley positions them strongly in the renewable energy landscape dominated by Mukesh Ambani's Reliance and Shapoorji Pallonji Group.

Meanwhile, Goldman Sachs made headlines by selling a 1.47 per cent stake, consisting of 34.27 lakh shares, for Rs 97 crore. This sale, made at a slightly higher average price of Rs 282.46, triggered a notable 6 per cent drop in Sterling and Wilson Renewable Energy's share price, closing at Rs 294.75 on the NSE.

(With inputs from agencies.)