Hot stock: Sembcorp hits 4.5-year high after agreeing to sell Indian coal power unit
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Vivienne Tay
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SHARES of Sembcorp Industries jumped to a 4.5-year high on Tuesday (Sep 6), after the group announced on Monday that it would sell its India-based coal power unit for 117 billion rupees (S$2.1 billion).
The counter reached a high of S$3.51, up 5.4 per cent or S$0.18 as at 9.45 am. The last time the counter closed near this level was Feb 5, 2018. By the midday trading break, Sembcorp was trading 4.2 per cent or S$0.14 higher at S$3.47, with 14.6 million shares changing hands.
In a bourse filing on Monday evening, Sembcorp said its wholly-owned subsidiary Sembcorp Utilities entered into an agreement with Tanweer Infrastructure to sell Sembcorp Energy India Limited (SEIL).
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