SWSolar up over 8%

On the back of 60% jump in today’s volume, Sterling and Wilson Renewable Energy opened more than 4.5% higher at Rs.313 and went up further to an intraday high at Rs.324, up 8.25%. Its 52-week high and low stands at Rs.400 and Rs.255.25 respectively.

The stock price has reacted positively to the news that it has emerged as successful bidder for the BOS package comprising of four (4) blocks of 300MW(AC) each in the proposed 1200MW Solar PV Project of NTPC Renewable Energy, at Khavda RE Power Park, Rann of Kutch, Gujarat with an aggregate capacity of ~ 1500 MW (DC).

The total bid value, including O&M for 3 years, would be Rs.2,100 crore (inclusive of taxes).

The formal NOAs and contract signing is likely to happen in due course.