Sterling and Wilson Renewable Energy shares rally 8% after securing Rs 985 crore domestic and global orders

Sterling and Wilson Renewable Energy (SWREL) has secured new orders valued at a combined ₹985 crore, triggering a significant rally in its stock. The announcement of the new contracts, which span domestic and international markets, was met with strong investor optimism, pushing the company's shares up by as much as 8% during trading.

Breakdown of the New Contracts

The order book expansion includes two domestic projects and one international mandate. The largest of these is a ₹648 crore engineering, procurement, and construction (EPC) contract for a 210 MWac solar project in Gujarat, awarded by a prominent renewable energy developer.

Additionally, the company secured a ₹29 crore operations and maintenance (O&M) contract for an existing 54 MWp solar facility in Rajasthan. These domestic wins highlight the continued momentum in India's renewable energy sector.

Strategic International Expansion

Internationally, SWREL has been awarded a contract for a Balance of System (BoS) package for a 75 MWac solar project in the Middle East, valued at ₹308 crore. This project reinforces the company's strategic focus on expanding its footprint in key overseas markets.

Amit Jain, Global CEO of the SWREL Group, stated that the new orders affirm customer trust in the company's project execution capabilities. He also noted that the company is on track to meet its annual guidance for order inflows.

Market Reaction and Financial Health

Following the news, SWREL's stock price reached a high of ₹702 on the BSE before closing at ₹689.60, a 5.91% increase. The rally boosted the company's market capitalization to ₹16,355 crore. This positive market response builds on the stock's strong performance over the past year, during which it has rallied approximately 130%.