Sterling and Wilson Renewable Energy's shares have achieved multibagger returns over the last six months. The stock has increased by 156% throughout this time. Despite today's heavy market volatility, the stock reached a new high. Sterling and Wilson's shares climbed 5% to a record high of Rs 760 on the BSE, up from the previous closing of Rs 723.85. It was stuck in the upper 5% range at the conclusion of the market today. On the BSE, 8.02 lakh shares of the firm changed hands, resulting in a turnover of Rs 60.82 crore. The firm's market capitalization increased to Rs 17,725.69 crore on the BSE. Today, the stock opened higher at Rs 736.95.
On October 19, 2023, the stock plummeted to its 52-week low of Rs 253.45.
YES Securities has set a price target of Rs 900 on the civil construction shares.
"With the company's turnaround, considerable balance-sheet deleveraging, a healthy order pipeline, and expected good orders in the coming year, we are bullish about the stock's potential to re-rate from its present position. As a result, we propose a Buy rating," said YES Securities.
"The company anticipates fresh orders from existing clients and PSUs in FY25. Both Reliance and Nigeria orders are anticipated in FY25, substantially improving the company's order pipeline. With a recent boost in long-term rating and consistent order intake from domestic and overseas clients, the company is likely to grow with the Solar EPC industry at a CAGR of 15-20%, excluding contracts from Reliance and Nigeria," YES Securities stated.
Nuvama Institutional Equities has maintained a 'Buy' rating on the company and set a target price of Rs 850. It anticipates a V-shaped profits rebound beginning in FY25E and accelerating to a hockey stick curve on a robust global outlook.
"With global solar PV capacity poised to more than double by 2026, immense opportunities are in the offing for Indian companies, particularly Sterling and Wilson Renewable Energy, to scale up globally, leveraging India's lowest PV installation cost," according to the brokerage.
In terms of technicals, Sterling and Wilson's relative strength index (RSI) is 66.4, indicating that it is neither overbought nor oversold. The stock has a beta of 0.7, which indicates modest volatility over a year. Sterling and Wilson's shares are trading higher above their 5 day, 20 day, 50 day, 100 day, and 200 day moving averages.
Sterling and Wilson Renewable Energy Limited offers comprehensive renewable engineering, procurement, and construction (EPC) solutions. It specializes in EPC services for utility-scale solar power projects, with a focus on project design and engineering, and oversees all elements of project execution, from conceptualization to commissioning.
