Sterling and Wilson shares gain on bagging Rs 1,130-crore GIPCL order

The company had reported net loss of Rs 95.47 crore in the quarter ended June 2023 against loss of Rs 353.91 crore in the same quarter last fiscal.

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Shares of Sterling and Wilson Renewable Energy traded marginally up at Rs 372 on August 14 after the company won an order worth Rs 1,130 crore from Gujarat Industries Power Company Limited (GIPCL).

The company has received the Letter of Intent (LoI) from GIPCL for its proposed 600 MWac (equivalent to 750 MWdc) solar PV project at Khavda.

The project consists of two blocks, with each block of 300 MWac and the scope of work includes design, engineering, supply, construction, erection, testing, and commissioning along with a three-year operation and maintenance.

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The company had earlier this month said that it had won orders worth Rs 826 crore in the first four months of FY 2023-24.

The orders aggregate to around 1 GWp and include projects in Rajasthan, Uttar Pradesh and Gujarat. The scope of work for all projects include design, construction and commissioning.

Also, the company had received a Limited Notice to Proceed for an engineering, construction and procurement (EPC) order for a value of approximately Rs 360 crore for a project in India.

The company had reported net loss of Rs 95.47 crore in the quarter ended June 2023 against a loss of Rs 353.91 crore in the same quarter last fiscal.