After several consecutive days of rise, the Indian stock market entered selling mode on Friday. Amidst this environment, there was huge demand for the shares of Sterling & Wilson Renewable Energy Limited. Shares of Sterling & Wilson Renewable Energy increased by 2.5 percent after a big deal worth Rs 1,192 crore was made in the stock market on Friday, the last trading day of the week. At least 1.90 crore shares of Sterling & Wilson have been sold at the floor price of Rs 629 per share. This is equivalent to 8 percent equity. However, detailed information about buyers and sellers could not be found.
share status
Let us tell you that during trading on Friday, the shares of Sterling & Wilson Renewable Energy had reached the level of Rs 665. The share was at 52 week high of Rs 828 on May 21, 2024. Whereas, in October 2023 the share price was Rs 253.45. This is the stock’s 52-week low.
Company’s CFO resigns
There is also turmoil in the management of Sterling & Wilson Renewable Energy. Earlier this week, Bahadur Dastur resigned from the post of Chief Financial Officer (CFO) of the company with effect from September 21. Let us tell you that the company is a global solar EPC and O&M service provider. Anand Rathi Stock & Stockbrokers estimates that RIL will need to add 100 GW of renewable energy capacity by 2030 to meet its net-zero target of providing EPC opportunities worth Rs 1.1 lakh crore with around Rs 30,000 crore in FY 2026-31 ( Mainly solar and battery storage).
The company has received a big order
Recently Sterling & Wilson Renewable Energy has received a contract worth more than Rs 550 crore to set up a solar energy plant in Rajasthan. The project will be set up on engineering, procurement and construction (EPC) basis. This contract is worth more than Rs 550 crore.
