Buy Sterling and Wilson Renewable Energy, target price Rs 332: IIFL

IIFL has buy call on Sterling and Wilson Renewable Energy with a target price of Rs 332. The current market price of Sterling and Wilson Renewable Energy is Rs 320.9.

Sterling and Wilson Renewable Energy Ltd., incorporated in the year 2017, is a Mid Cap company (having a market cap of Rs 5797.03 Crore) operating in Engineering sector.

Sterling and Wilson Renewable Energy Ltd. key Products/Revenue Segments include Income From Contracts, Other Services, Other Operating Revenue, Scrap and Traded Goods for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 1211.06 Crore, up 10.65 % from last quarter Total Income of Rs 1094.47 Crore and down -1.32 % from last year same quarter Total Income of Rs 1227.20 Crore. Company reported net profit after tax of Rs -355.99 Crore in latest quarter.

Investment Rationale
The stock has given an inverse head and shoulder pattern breakout.

Promoter/FII Holdings
Promoters held 78.56 per cent stake in the company as of 30-Jun-2022, while FIIs owned 2.05 per cent, DIIs 3.38 per cent.