Sterling and Wilson shares rally 5% after Rs 415 crore Rajasthan solar project order

Shares of Sterling and Wilson Renewable Energy rallied 4.6% to their intraday high of Rs 278.80 on the BSE in early trade on Wednesday after the company said it has bagged a Rs 415 crore order for a solar power project in Rajasthan, even as the stock struggles near multi-year lows.

The renewable solutions provider on Tuesday announced it has received a Letter of Intent (LoI) from a leading private Independent Power Producer for a balance of system engineering, procurement and construction (BOS EPC) package.

The order covers the development of a 300 MW AC / 420 MWp DC solar PV project along with a 220/33 kV pooling substation in Rajasthan, and includes operation and maintenance.

Order momentum builds

Sterling and Wilson Renewable Energy Group Global CEO Chandra Kishore Thakur said, "The order is a testament to our strong execution capabilities, and we continue to build on our gross order inflows, which has exceeded Rs 2,400 crore this year."

The company, which provides EPC services across utility-scale solar, floating solar, and hybrid and storage solutions, has a portfolio of 22.8 GWp in projects under construction and commissioned. It also manages an O&M portfolio of 9.3 GWp, including projects built by third parties.

Present in 28 countries, the Mumbai-headquartered company has operations spanning Southeast Asia, the Middle East, Africa, Europe, Australia, and the Americas.

Stock under pressure

The stock has lost 43.5% so far in 2025 and is down 62% over the past 12 months. Shares slipped 1% in the past week alone.

From a technical standpoint, Sterling and Wilson trades below seven of its eight key simple moving averages (5-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day), with only the 10-day SMA providing support.

The Relative Strength Index stands at 42.2, indicating the stock is neither overbought nor oversold. The MACD reading of -6.1 remains below the center line, underscoring bearish momentum.

Recent earnings

In July, Sterling and Wilson posted a sharp 680% jump in consolidated net profit for Q1FY26 at Rs 39 crore versus Rs 5 crore a year earlier, while revenue surged 93% to Rs 1,762 crore.

Sequentially, however, profit after tax fell 29% from Rs 55 crore in Q4FY25 and revenue slipped 30% from Rs 2,519 crore.


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