From Rs 70 to Rs 780: Reliance-backed solar stock delivers over 1,000 per cent, hits all-time high; heavy buying witnessed today!

The company's shares have delivered an impressive return of over 160 per cent to their shareholders.

Sterling and Wilson Solar Limited, one of the leading end-to-end solar engineering, procurement, and construction (EPC) solutions providers globally. It 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.

Today, the company’s stock hit an all-time high, crossing its IPO listing day high price, which was in August 2019. The stock has attracted a significant spurt in volume on the BSE. During the COVID-19 fall when the markets were facing a significant downturn, the stock hit an all-time low of Rs 69.75 per share. From this point, the stock has reached an all-time high today and started trading at all-time high levels. It has great potential to deliver multibagger returns in the future.

Also, read Board likely to announce stock subdivision: Meeting scheduled for May 2024, Stock gains over 500 per cent!

Shareholding Pattern of Sterling & Wilson Renewable Energy

In March 2024, the promoters' share stood at 52.99 per cent, which decreased to 52.94 per cent, while FIIs held 10.50 per cent and DIIs held 10.64 per cent during the same period. Reliance New Energy Limited held around 32.54 per cent as per the March 2024 update.

Also, read Mukul Agrawal portfolio company announces robust results: Net profits skyrocket by 2,600 per cent, stock gains 200 per cent in just one year!

Share Performance and Financial Performance of Sterling & Wilson Renewable Energy

Today the company's stock closed at around Rs 779.10 per share, with a market capitalisation of Rs 18,171 crore. Additionally, the stock has delivered a multibagger return of around 158 per cent in the past six months only.

As per Quarterly Results in Q4 FY24 Sterling & Wilson Renewable Energy reported revenue of Rs 1,178 crore, representing a year-on-year growth of 1,232 per cent from Rs 88.43 crore last year. The company posted an operating profit of Rs 29.35 crore, compared to a net loss profit of Rs 352 crore last year. The company’s net profit stood at Rs 1.40 crore in Q4 FY24.

Investors must keep this Small-Cap multibagger stock on their radar.

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