Unitech rallies 5% on sale of power transmission biz

Shares of Unitech added nearly 5 percent intraday on March 27 after the company successfully entered into a Share Purchase Agreement (SPA) with Sterling and Wilson Private for sale of entire issued and paid up share capital of Unitech Power Transmission.

The company in its BSE release on March 26 informed that the Supreme Court has approved the SPA and the closing formalities are being completed.

Following the transaction, Unitech Power Transmission will become a wholly-owned subsidiary of Sterling and Wilson Private Limited.
At 1014 hrs, Unitech Ltd was quoting Rs 1.30, up 4.84 percent on the BSE.

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