Sterling and Wilson Renewable Energy wins ₹504 crore order for DC project in Rajasthan

Sterling and Wilson Renewable Energy Ltd. announced that it has won a new domestic order from a private player in Rajasthan.

The order is for supply, installaion and commissioning of 396 MWp DC project in Rajasthan. The order is from one of tis repeat customers, according to the company's exchange filing.

Total value of this order received by Sterling and Wilson is worth ₹504 crore. "As the market has seen significant growth in projects from private IPP's, we too are seeing a strong pipeline of projects from the private sector and especially from our repeat clients," Sterling and Wilson said.

Global CEO of Sterling and Wilson Renewable Energy, Amit Jain said that the company is expecting a large number of bids from state-run companies in the fourth quarter, which augurs well for achieving the company's order booking target for the year.

At the end of the September quarter, Sterling and Wilson's unexecuted order book stood at ₹10,549 crore. It also has a Nigerian order worth over ₹13,000 crore that is close to being finalised.

All five analysts who currently have coverage on Sterling and Wilson, have a "buy" recommendation on the stock.

Shares of Sterling and Wilson are currently fluctuating between gains and losses, trading 1% higher at ₹491.4.