Sterling & Wilson Renewable Energy Ltd Share Price – NSE  /  BSE

Engineering, Small Cap

Sterling & Wilson Renewable Energy announced that it has received a prestigious order for the Engineering, Design, Procurement, Erection, Testing & Commissioning of 500 x 2 (1,000 MWhr) - Standalone BESS plant in Rajasthan, India.

This GWhr scale project is till date India's Largest Battery Energy Storage (BESS) Project and one of the very few Projects of GWhr scale in a single location globally which shall be executed by 2025.

The total installed capacity of BESS in India currently only stands at ~219 MWhr as of March 2024. As per National Electricity Plan (NEP) 2023 of Central Electricity Authority (CEA), the energy storage capacity requirement is projected to be 82.37 GWh (47.65 GWh from PSP and 34.72 GWh from BESS) in year 2026-27.

Additionally, the company also secured a 20 MW Floating Solar project in Karnataka from the same client, which marks the third such floating solar project the company is currently executing in the country.

The value of LoI's for both projects is Rs 328 crore.

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Net profit of Sterling & Wilson Renewable Energy reported to Rs 4.19 crore in the quarter ended June 2024 as against net loss of Rs 95.47 crore during the previous quarter ended June 2023. Sales rose 77.70% to Rs 915.06 crore in the quarter ended June 2024 as against Rs 514.96 crore during the previous quarter ended June 2023.

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Sterling & Wilson Renewable Energy will hold a meeting of the Board of Directors of the Company on 18 July 2024.

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Securities in F&O ban: Gujarat Narmada Valley Fertilizers & Chemicals, Indus Tower, Punjab National Bank, Steel Authority of India.

Sterling and Wilson Renewable Energy's promoter Rohiqa Cyrus Mistry sold 32,938 shares on June 20.

Gravita India's promoter Rajat Agrawal sold 14 lakh shares on June 21.

Paisalo Digital's promoter Equilibrated Venture Cflow bought 31.18 lakh shares on June 25.

Sanghi Industries said promoter Ambuja Cements and Ravi Sanghi will sell up to 3.52% stake via OFS. Ambuja Cements is to sell up to 2.36% of the of the stake via OFS, and Ravi Sanghi is to offload up to 1.16%. The floor price of OFS has been set at Rs 90 per share. OFS will open on June 26 for non-retail investors and on June 27 for retail investors.

Mazagon Dock Shipbuilders said the Department of Public Enterprises approved the proposal for the grant of Navratna status to the company.

Zee Entertainment Enterprises said the NCLT has allowed the withdrawal of the implementation application filed for the Sony India merger.

Yes Bank will consider raising funds via debt securities on 23 August 2024.

Mahindra and Mahindra Financial Services said Vivek Karve resigned as CFO effective October 31.

Rattanindia Enterprises said Vijay Nehra resigned as COO effective June 24.

Borosil raised Rs 150 crore via QIP and allotted 47.2 lakh shares at Rs 318 per share, which indicates a discount of 4.14% to the floor price.

NTPC is to hold a board meeting on June 29 to consider raising funds up to Rs 12,000 crore via NCDs, subject to the approval of shareholders.

IDBI Bank said Arun Bansal resigned as executive director and head of treasury (on contract) effective June 25.

Vishnu Prakash R. Punglia received a Rs 273.11 crore order from Uttar Pradesh Jal Nigam.

Time Technoplast received an additional order worth Rs 55 crore from Indian Oil Corporation for the supply of composite cylinders.

Gulshan Polyols has started commercial operations of ethanol at their 250 KLPD capacity grain-based ethanol plant in Goalpara, Distt. Assam.

Popular Vehicles And Services' unit gets a show cause notice from the Tamil Nadu Pollution Control Board for violation of water pollution regulations.

Mindspace Business Parks REIT raised Rs 650 crore from International Finance Corp. via the issuance of sustainability-linked bonds.

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