Shell's American solar subsidiary, Savion, has initiated the sale of approximately 25 per cent of its solar assets, according to industry sources and a marketing document obtained by Reuters.
The move signifies Shell's continued divestment from renewable energy projects as part of CEO Wael Sawan's realignment.
The VMware deal, which faced several regulatory hurdles, was among the biggest globally when it was announced in May 2022. Broadcom closed the acquisition more than a year later, in November 2023, after receiving regulatory approval in China.
MidCap 100 Index is now trading at 25.9 times one-year forward earnings, compared with 20.2 times for the Nifty. Wood said the valuations should be seen in the context of the acceleration in growth.