Page 2 - Sterling And Wilson

Mistry's death sentimentally negative but stay put in SP Grp stks: Analysts

Cyrus Mistry, a high-profile Indian-born Irish businessman and the former chairman of the Tata group, passed away in a road accident on September 4, 2022

Shapoorji Pallonji and Company divests 1.25% stake in energy firm

The 3.6-million share OFS garnered bids for 7.8 million shares from institutional investors on Friday

Stocks to Watch: Banks, Asian Granito, M&M, Tata Steel, Telecom, SWRE

Rate sensitive related shares such as auto, banks, NBFCs and realty are likely to be in limelight owing to the RBI policy on Friday.

Sterling and Wilson Renewable Energy report Rs 429 cr loss in Dec quarter

Sterling and Wilson Renewable Energy on Monday reported a consolidated net loss of Rs 428.78 crore in the quarter ended December 2021.

Sterling & Wilson approves allotment of 29.3 million shares to RNESL

RNESL is a wholly-owned subsidiary of Reliance Industries Ltd (RIL)

Sterling and Wilson Solar reports Rs 284 cr loss for Sept quarter

Sterling and Wilson Solar (SWSL) on Saturday reported a consolidated net loss of Rs 284.35 crore for September quarter 2021-22. The company had logged a consolidated net profit of Rs 15.09 crore in the year-ago period, a BSE filing stated. Total income rose to Rs 1,469.74 crore in the quarter as against to Rs 1,375.94 crore in the same period a year ago. "Our unexecuted order book as on November 13, 2021 (before adjusting for revenue post 30th September 2021) stands at Rs 6,730 crore. The company's revenue from operations for H1FY22 (April-September) stood at Rs 2,633 crore," the company said in a statement. However, the profitability continues to remain impacted due to challenging environment across the entire solar industry value chain, it added. Amit Jain, Global CEO, SWSL said,SWSL will immensely benefit from Reliance Group's integrated new energy vision which will further strengthen our position as a leading EPC and O&M player globally." SWSL, with its engineering talent,

SWSL gets shareholder nod to issue shares to Reliance New Energy Solar

"The resolution at the EGM was passed with the requisite majority," according to a BSE filing

SP group to raise Rs 10,000 cr from asset sale, meet debt repayment target

Group puts textile land in Karnataka on sale; it had earlier sold its stake in Eureka Forbes and in renewable power firm Sterling and Wilson

Multiple triggers for Reliance Industries' stock, say analysts

At $0.5 billion per MW of acquisition enterprise value (EV), if we were to extrapolate to RIL's solar photovoltaic (PV) manufacturing, it implies $7-10 billion in value creation

Sterling and Wilson Solar soars 17% as RIL to buy 40% stake in company

Reliance Industries through its subsidiary will acquire a 40 per cent stake in Sterling and Wilson Solar through a combination of primary investment, secondary purchase and open offer

RIL to buy 40% stake in Sterling & Wilson Solar for Rs 2,850 crore

The company will also acquire 25.9 per cent stake by way of an open offer at the same price

RIL picks up 40% in SP group's Sterling and Wilson Solar for Rs 1,100 cr

As part of deleveraging its stretched balance-sheet, the Shapoorji Pallonji Group is divesting its second key asset within a month by selling 40 per cent stake in Sterling & Wilson Solar, the solar EPC joint venture it runs with the Khurshed Yazdi Daruvala family, to Reliance Industries for Rs 1,100 crore through a multi-stage transaction. While for the SP Group led by Shapoorji Pallonji Mistry, this is the second asset sale within a month after the Rs 4,400-crore deal for Eureka Forbes it had inked with the American private equity Advent International, for Reliance this is the second solar acquisition in the very same day. Earlier in the day, RIL announced buying out the Norwegian solar panel maker REC Solar Holdings for USD 771-million from China National Bluestar Group Company. Reliance is carrying out the deal through its fully-owned subsidiary Reliance New Energy Solar, which "will acquire 40 per cent in Sterling & Wilson Solar through a combination of primary investment,

Sterling and Wilson Solar zooms 54% in 5-weeks; hits 22-month high

A Shapoorji Pallonji group company, Sterling and Wilson Solar is an end-to-end solar engineering, procurement and construction (EPC) solutions provider

Sterling and Wilson Solar to explore biz opportunities in other segments

Sterling and Wilson Solar will explore business opportunities in areas like clean energy storage, waste management and energy efficiency. The company inserted a new clause in the memorandum of association (MoA) to include new segments like setting up of power plants, solar energy systems, renewable energy systems or any other facility including Hybrid Energy Systems & Energy Storage (BESS) & (ESS) in its business. "The Members of the Company through Postal Ballot (remote e-voting) have by way of special resolution approved the alteration of the Object Clause of the MoA of the Company as stated in the Postal Ballot Notice dated July 29, 2021," it said in a BSE filing on Tuesday. As per the amended MoA, the company will also enter into integrated solid waste/ biomass management including Waste to Energy using municipal solid waste as fuel for power generation, using biomass as fuel for power generation. The company can now also enter the business of providing market energy ...

Sterling and Wilson Solar reports Rs 76 cr loss in June quarter

Sterling and Wilson Solar on Saturday reported a consolidated net loss of Rs 76.02 crore for the June quarter against a net profit of Rs 17.22 crore in the quarter ended on June 30, 2020. Total income of the company rose to Rs 1,227.20 crore in the quarter under review from Rs 1,099.38 crore in the same period a year ago, according to a regulatory filing by the company. "Other expenses during the quarter ended 30 June 2021 include forward contract cancellation charges aggregating to Rs 80.46 crores. A few of these contracts, with a corresponding cost of Rs 49.15 crores, have been re-booked during the quarter, as the corresponding revenue against such forward contracts is to be accrued in subsequent periods." About the impact of pandemic, it stated that the Management believes that the Group will continue its business in the foreseeable future, so as to be able to realise its assets and discharge its liabilities in the normal course. During the quarter ended 30 June 2021, the ...

Sterling and Wilson Solar names Amit Jain as global CEO effective May 31

He succeeds Bikesh Ogra, who relinquished the post on May 31, but who continues as a director on the company's board

Sterling and Wilson Solar announces appointment of Amit Jain as Global CEO

Sterling and Wilson Solar Ltd on Monday announced the appointment of Amit Jain as Global CEO. Indian multinational and global leader in Solar EPC, Sterling and Wilson Solar Ltd has appointed Amit Jain as Global CEO, the company said in a BSE filing. He succeeds Bikesh Ogra, who relinquished the position with effect from May 31, 2021. Ogra will continue as a Director on the Board of the company. Jain has been associated with Sterling and Wilson Solar Ltd since January 2019 as the Country Head for the US and Australia. He has been instrumental in developing the US and Australia as key markets for the company. Jain will take over the global operations of the company and report to the Board of Directors. He will now be responsible for business development, market growth and the P&L for SWSL that has its operations across 25+ countries. He will continue to operate from Dubai. Khurshed Daruvala, Chairman, Sterling and Wilson Solar Ltd, said in a statement, We are delighted to elevat

Sterling and Wilson Solar extends fall amid margin concerns; stock dips 11%

The management believes that recent one-off events would materially impact the costs of the affected projects under execution, impacting margins for the year end March 31, 2021

Amplus Solar buys rooftop solar assets of Sterling & Wilson totaling 7.2 Mw

Deal value not revealed; The 17 acquired projects supply 13 leading industrial, commercial, and institutional customers

Sterling and Wilson Solar's US subsidiary bags Rs 890 crore order

Sterling and Wilson Solar on Wednesday said that its US arm has bagged Rs 890 cr order in the pacific north-west region of the US