Sterling and Wilson stock jumps 4% on Rs 1,535 crore order win from NTPC-RE

“This is the third order for the company from NTPC Renewable Energy (NTPC RE) in just over a year. With this order, our year-to-date order booking stands at Rs 3,100 crore,” said company’s Global CEO Amit Jain

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Sterling and Wilson Renewable Energy shares were trading 3 percent higher on September 29 after the company announced an order-win of Rs 1,535 crore from NTPC Renewable Energy for engineering, procurement and construction at Khavda Renewable Energy Power Park in Rann of Kutch, Gujarat.

“This is the third order for the company from NTPC Renewable Energy (NTPC-RE) in just over a year. The new order win for the project with a capacity of 300 megawatt alternating current complements our existing portfolio of 2.47 gigawatt alternating current presently under execution for NTPC-RE in Khavda. It also helps us leverage the low module price environment globally,” said Amit Jain, Global CEO of the company.

“With this order, our year-to-date order booking stands at Rs 3,100 crore,” Jain added.

At 1 pm on the NSE, the Sterling and Wilson stock was quoting at Rs 361.15 apiece, up Rs 12.85, or 3.69 percent.

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In its results for the April-June quarter, the company reported a 57.33 percent year-on-year (YoY) decline in revenue from operations at Rs 515 crore. Net loss for the quarter came down from Rs 356 crore reported in the same period last year to Rs 95 crore.

Sterling and Wilson Renewable Energy Limited is engaged in the business of providing end-to-end solutions in the renewable energy sector. The company specializes in engineering, procurement, and construction (EPC) services for solar power projects globally.

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