Sterling & Wilson Renewable Shares Jump The Most In Six Months On Securing 1,200 MW Solar PV Project 

Shares of Sterling and Wilson Renewable Energy Ltd. advanced the most in nearly six months after winning 1,200 MW Solar PV project for Rs 2,100 crore.

The company emerged as the successful bidder for a package consisting of four blocks of 300 MW each in the proposed 1,200 MW Solar PV project of NTPC Renewable Energy at Khavda RE Power Park, Rann of Kutch.

The total bid value, including operation and maintenance for three years, will be Rs 2,100 crore.

Shares of Sterling and Wilson Renewable Energy Ltd. advanced 8.18% to Rs 323.9 apiece in trade on Tuesday. The headline index NSE Nifty 50 was trading higher by 0.47%.

Scrip rose as much as 9.40% intraday, the most in nearly six months since Sept. 23, 2022. Total traded volume stood at 11 time its 30-day average. The relative strength index was at 61.

One analysts tracking the company maintains a ‘buy’ rating on the stock. The return potential as calculated by the consensus of analyst estimates, stand at an upside of 40.2% over the next 12 months.

Larsen And Toubro Wins Projects Worth Rs 5,000 to 7,000-Crore For Hydrocarbon Business

  • L&T Energy Hydrocarbon, a unit of Larsen & Toubro has secured multiple offshore packages from an overseas client.
  • The work comprises engineering, procurement, construction & installation of offshore structures and upgradation of existing facilities.
  • The worth of the ‘major’ project falls between Rs 5,000 to 7,000-crore.

IDFC Aims To Complete Merger With IDFC First Bank In FY23

  • IDFC Limited aims to complete merger with IDFC First Bank in FY23, barring unforeseen circumstances
  • IDFC Limited has completed all necessary stages of Corporate Simplifications
  • Axis Capital Limited has been appointed for fairness opinion on the share exchange ratio

Source: Exchange Filing

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