Sterling and Wilson Renewable Energy shares were trading 3% higher after opening in the red on 29 September after the company announced securing an order from NTPC Renewable Energy worth Rs 1,535 crore for procuring, engineering, and constructing at Khavda Renewable Energy Power Park in Rann of Kutch, Gujarat.
Amit Jain, Global CEO of the company, said, “This is the third order for the company from NTPC Renewable Energy (NTPC-RE) in just over a year. The new order win for the project with a capacity of 300 megawatt alternating current complements our existing portfolio of 2.47 gigawatt alternating current presently under execution for NTPC-RE in Khavda. It also helps us leverage the low module price environment globally.”
He added that with this order, the company’s year-to-date order booking stands at Rs 3,100 crore.
The company is in the business of providing end-to-end solutions in the renewable energy sector and specialises in engineering, procurement, and construction services.
In its quarterly report for the April-June quarter, the company posted a net loss of Rs 95 crore against the net loss of Rs 356 crore reported in the year-ago quarter. The company’s revenue from operations declined by 57.33% YoY to Rs 515 crore.
At 3:30 pm, the shares of Sterling and Wilson closed at Rs 359.05 or 3.09% above its previous close on NSE.