Sterling and Wilson shares jump as renewable energy major bags Rs 1,080-crore orders

Shares of Sterling and Wilson Renewable Energy gained more than two percent on Tuesday after the firm bagged three rural electrification orders, amounting to Rs 1,080 crore. While one order is from Chhattisgarh State Power Distribution Company Ltd (CSPDCL) in Rajnandgaon district, Chhattisgarh, the remaining two are from South Bihar Power Distribution Company (SBPDCL) in Nalanda (also covering districts in Nawada) and Gaya.

The projects, aimed at development of distribution infrastructure at electric supply circle, will impact lives of lakhs of people in the regions, and come with a 30-month timeline, a company statement said.

These are turnkey projects awarded under the revamped reforms-based and results-linked, distribution sector scheme.

Sterling and Wilson shares rose to as high as Rs 305.7 apiece on BSE in intraday trade, having begun the day at Rs 298.4 apiece. 

In the last one year, Sterling and Wilson shares have lost almost 20 percent of their value, a period in which the Nifty headline index has risen three per cent.

What does Sterling and Wilson do?

Sterling and Wilson is a leading engineering, procurement, and construction (EPC) company in the country. It operates across more than 30 nations with a strong presence in Asia, the Middle East, Africa, Europe, the Americas, and Australia.

Sterling and Wilson Q4 results 

Sterling and Wilson's board is set to meet on April 20, 2023 for the purpose of considering the company's audited results.

Sterling and Wilson dividend history

The company has declared just one dividend of Rs 6 on February 24, 2020 in recent years, as per data available on Trendlyne.

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