The stocks of Sterling and Wilson Renewable Energy Limited (SWREL) are currently available for Rs 293. The scrip witnessed an intra-day high of Rs 313, gaining around 5 percent compared to the previous closing levels of Rs 298. The company has a market capitalization of Rs 5,532 crores.
In the year 2022, the renewable energy company became a part of Reliance Industries Limited (RIL), India’s most valued company. As of the March 2023 quarter, the conglomerate holds a 40 percent stake becoming RIL’s associate company.
SWREL derives around 40 percent of its revenues from the Australian markets and is considered to be the lead player when it comes to Solar EPC contracts. It is bidding for engineering, procurement, and construction (EPC) projects in Australia in order to increase the prevailing market share of the company.
Apart from the above, the second big market for the company is the Indian market, and leveraging this growth, the company further plans to add about 2 gigawatt (GW) capacity in green hydrogen and battery storage each year.
Another buzz around the company’s stock is pertaining to a Block Deal wherein around 35 Lakh shares, equating to a 1.8 percent stake, changed hands at a price of Rs 295.25 per share. CNBC-TV18, citing sources, mentioned that ‘Shapoorji Pallonji and Company’ is likely the seller in the above-mentioned deal.
Sterling and Wilson Renewable Energy Limited is a company based in India that is engaged in Rooftop as well as Turnkey solutions in relation to the construction, operation & maintenance of solar power projects. The company operates in India, Australia, the Middle East, the United States of America, etc.
Written by Amit Madnani
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