Heavy buying: Back-to-back upper circuit in this Reliance backed solar EPC stock; reports 140 per cent jump in net sales!

Shares of the company gained more than 14 per cent in the last six months.

Shares of Sterling & Wilson Renewable Energy Limited were locked in the upper circuit on Thursday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last two days. Hence, the stock is locked in the upper circuit. In the last six months, the stock has gained about 14 per cent.

Recently, Sterling and Wilson Renewable Energy Limited (SWRE) has received a contract worth Rs 1,535 crore from NTPC Renewable Energy Limited for the EPC project of 300 MWac at Khavda RE Power Park, Gujarat. The contract includes operation and maintenance for three years. This is the third order for SWRE from NTPC REL in just over a year.

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The company posted strong Quarterly Results. The revenue of the company for Q2FY24 stood at Rs 759.52 crore which grew by 142.9 per cent YoY. The operating profit of the company stood at Rs 18.68 crore, while the PAT of the company stood at a loss of Rs 54.51 crore, from a loss of Rs 298.71 crore last year's same quarter.

Sterling and Wilson Solar Limited is one of the leading end-to-end solar engineering, procurement and construction (EPC) solutions providers globally and is also engaged in the operation and maintenance (O&M) of solar power projects. The company is backed by the strong parentage of Reliance Industries.

Investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.