Sterling & Wilson share price jumps over 8% on order update amid weak stock market

Sterling and Wilson Renewable Energy share price jumped more than 8% on Tuesday after the company received three new orders. Sterling and Wilson shares rallied as much as 8.68% to ₹272.25 apiece on the BSE.

The renewable EPC solutions provider Sterling and Wilson Renewable Energy announced that it has received orders for three new solar and hybrid projects valued at ₹1,470 crore.

The company received two new domestic letters of awards from Private IPPs, and has been declared L1 in a 200 MW AC solar project. The cumulative order value of the three domestic projects combined is ₹1,470 crore including taxes and O&M.

“The company received its first letter of award for a Wind EPC from a Private IPP for a Hybrid project in Rajasthan. Scope of work includes Engineering, Procurement and Construction of a 69.3 MW Wind Balance of Plant, and 58 MW AC / 75 MWp DC Solar BoS, along with 132 kV / 33 kV pooling substation,” Sterling and Wilson Renewable Energy said in a regulatory filing on April 1.

The company has achieved L1 for a turnkey solar project of 200 MW AC / 260 MWp DC PV plant in Gujarat, India from a leading PSU developer. It has also received a letter of award for a PV plant in Rajasthan, India from a domestic IPP.

“We are very excited to bag three prestigious domestic projects including our foray into Wind EPC through a Hybrid project win which opens up a new exciting segment for us. We have already established a market leading presence in India in Solar and BESS, and our entry into Wind helps us provide holistic EPC solutions for Hybrid projects,” said Chandra Kishore Thakur, Global CEO, Sterling and Wilson Renewable Energy.

Sterling and Wilson Stock Price Trend

Sterling and Wilson Renewable Energy share price has gained 5% in one month, but has declined 43% on a year-to-date (YTD) basis. The renewable energy stock has fallen over 55% in six months and 50% in the past one year.

However, Sterling and Wilson share price has delivered multibagger returns of 235% in the past five years.

At 12:55 PM, Sterling and Wilson Renewable Energy shares were trading 7.82% higher at ₹270.10 apiece on the BSE.

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