Sterling & Wilson shares rose 2% after RNESL became its promoter

11 Jan 2022 CW Team

Shares of Sterling and Wilson Renewable Energy Limited (SWREL) rose by 2% after Reliance New Energy Solar Limited (RNESL) became its promoter after paying Rs 1,583 crore for acquiring 25.9% equity.

The company's share price rose to Rs 394, compared to Rs 386 on the National Stock Exchange (NSE). The shares of Reliance Industries added 0.6% on the NSE..

According to a report, the acquisition deal included RNESL's purchasing interest in SWREL from Shapoorji Pallonji Group, making an open offer as per the regulations. However, the Competition Commission of India (CCI) had cleared the deal..

After the transaction, RNESL and other firms acquired a 40% stake in SWREL in total..

Earlier, RNESL, Reliance Industries Limited (RIL) and Reliance Ventures Limited paid Rs 259 crore for acquiring 25.90% equity in SWREL..

Last year in December, RNESL deposited Rs 1,583 crore together with the initial cash deposit of Rs 259.26 crore, which is equal to 100% of the offer payable under the open offer of the deal, considering full acceptance of the open offer..

The company said that after receiving the receipt of stakeholders' approval, fulfiling other conditions under the SSA and according to the association of the target company, the company issued and allotted shares to the acquirer on 30 December..

Image Source

Real Estate

05 May 2026

Dubai Real Estate Sales Reach AED48 Billion

Dubai’s real estate market recorded 13,977 sales transactions worth AED48 billion in April 2026, reflecting continued resilience across residential and commercial segments.According to a market update by fäm Properties, sales volume rose 3.5 per cent month-on-month compared to March, while total sales value increased by 10.7 per cent. The commercial sector, including offices and shops, recorded the strongest growth, with 561 transactions valued at AED4 billion, up 33.9 per cent year-on-year and 36.2 per cent month-on-month.Apartment sales rose 6.5 per cent month-on-month to 11,377 transacti..

Casagrand Launches 35-Acre Hyderabad Project

Casagrand has launched Casagrand Vybe, its largest residential project in Hyderabad, spread across 35 acres in Rajendra Nagar. The launch marks the company’s fifth residential rollout in 2026 and strengthens its expansion momentum in the city.As part of its Hyderabad growth strategy, Casagrand is adding 3.98 million sq ft of residential space to its portfolio. Since entering the Hyderabad residential market in 2023, the company has scaled its presence with projects across key micro-markets. In 2025, it launched four projects — Casagrand Evon, Casagrand Windsor Court, Casagrand Belair and C..

Bentley Event Spotlights AI Infrastructure

Bentley Systems recently hosted Illuminate Mumbai 2026, bringing together infrastructure leaders, policymakers, technology experts and academia to discuss how AI-driven engineering and digital twins can accelerate India’s journey towards Viksit Bharat 2047.The event focused on scaling intelligent and connected infrastructure ecosystems beyond digital adoption. Discussions covered the use of infrastructure AI, open data environments and digital twin technologies to improve project delivery, sustainability and long-term asset performance across key sectors.Kamalakannan Thiruvadi, Regional Exec..