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Sterling & Wilson Solar share hits upper circuit after US unit wins Rs 747-crore contract

Share price of Sterling & Wilson Solar opened with a gain of 5%  at Rs 199.25 against previous close of Rs 189.80 on BSE

twitter-logoBusinessToday.In | June 26, 2020 | Updated 14:12 IST
Sterling & Wilson Solar share hits upper circuit after US unit wins Rs 747 crore contract
Sterling and Wilson Solar Solutions Inc , the US based unit of Sterling & Wilson Solar, said it has been awarded its largest solar project in the United States of America worth $99 million or Rs 747 crore

Sterling & Wilson Solar share price was stuck in upper circuit of 5% today after the company's US-based subsidiary bagged the largest solar project in the country. Share price of Sterling & Wilson Solar opened with a gain of 5%  at Rs 199.25 against previous close of Rs 189.80 on BSE. The small cap stock has gained 24.38% in last 5 days.

The stock touched an intraday high of Rs 199.25 up, 4.98% on BSE. The share trades higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages. The stock has lost 38.15% since the beginning of this year. However, in a week, the share has gained 24.38% on BSE. Total 2.01 lakh shares changed hands amounting to turnover of Rs 4 crore.

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Sterling and Wilson Solar Solutions Inc , the US based unit of Sterling & Wilson Solar, said it has been awarded its largest solar project in the United States of America worth $99 million or Rs 747 crore.

The contract entails construction of a 194 MW project in the United States. It is being developed by a leading sustainable energy company, it said in a filing to the exchanges.

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The construction will start in September and the project commissioned by November 2021. It will manage the entire turn-key execution for the project, and once commercially operational, the plant will produce enough solar energy to power over 35,000 homes, saving approximately 275,000 metric tonne of carbon emissions. The plant will be utilising bifacial technology to increase power density, the company added.

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