Sterling and Wilson Renewable Energy Limited (SWREL) saw a growth in its stock price on Monday, December 2, 2024. Shares climbed by as much as 3.40%, reaching an intraday high of ₹502.90 per share.
This positive movement followed the announcement of a significant domestic order valued at ₹504 crore. As the company continues to grow, it's a good opportunity to invest in stocks.
New domestic order boosts stock price
The rise in SWREL shares came after the company disclosed that it had secured a fresh domestic order from a private Independent Power Producer (IPP). The order, involving the supply, installation, and commissioning of a 305 MW AC / 396 MWp DC photovoltaic (PV) plant, is part of a project in Rajasthan from one of its repeat customers.
Sterling and Wilson Renewable Energy expressed confidence in the growing market for private IPP projects. The company highlighted the robust pipeline of upcoming projects, particularly from repeat clients. The firm’s consistent success in the domestic private IPP sector was noted as a key contributor to this latest project win, which further solidifies its position in the market.
Optimistic outlook for future projects
According to the company's statement, the renewable energy market has seen significant growth in private IPP projects, and Sterling and Wilson Renewable Energy is well-positioned to capitalise on this trend. The company also mentioned that a large number of bids from Public Sector Undertakings (PSUs) are expected in the fourth quarter, boosting their prospects for meeting their order booking targets for the year.
Company overview and market performance
Sterling and Wilson Renewable Energy is a leading global provider of renewable engineering, procurement, and construction (EPC) services. The company’s portfolio exceeds 20.7 GWp, with a strong focus on utility-scale solar, floating solar, and hybrid & energy storage solutions. Additionally, Sterling and Wilson Renewable Energy manages an operation and maintenance (O&M) portfolio of 7.8 GWp solar power projects, including third-party projects.
With operations spanning 28 countries across multiple continents, the company has built a solid presence in India, Southeast Asia, the Middle East, Africa, Europe, Australia, and the Americas. As of now, Sterling and Wilson Renewable Energy have a market capitalisation of ₹11,503.92 crore, according to BSE data. The stock's 52-week high stands at ₹828, while its 52-week low is ₹336.20 per share.
At 10:39 AM, SWREL shares were trading at ₹492.70, marking a 1.31% increase, while the BSE Sensex was down 0.05% at 79,765.43.
Key takeaways
If you're looking to invest in stocks, especially in the renewable energy sector, Sterling and Wilson Renewable Energy offer a promising opportunity.
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