Brokerage told that this stock is profitable, it has given 76% return in one year

New Delhi. Are you looking for a stock that not only protects your investment but also multiplies it? If your answer is yes, then Sterling & Wilson Renewable Energy shares can be a great investment option for you. The demand for solar energy is constantly increasing globally and the Government of India has also taken several steps to promote this sector. Sterling & Wilson, being a leading solar energy company, is directly benefiting from this increasing demand. This is the reason why Sterling & Wilson share prices have increased by 76 percent in the last one year. Brokerage firm Anand Rathi has advised to buy this stock. The brokerage estimates that in the coming time this stock can give up to 30 percent profit to the investors.

In the last trading session, i.e. Friday, Sterling & Wilson shares saw a gain of 1.55% and the stock closed at ₹ 672.85 on BSE. With this jump, the market cap of the company has increased to ₹ 15,702 crore. The 52-week high of the stock is ₹ 828 and the 52-week low is ₹ 253.45. The company has recently shown a lot of improvement in its quarterly results, profit has increased and debt has reduced. This shows that the company is in a strong financial position. The order book of the company is quite strong, which shows that the company has enough work in the coming time.

Also read- This government company is giving extra shares, if you buy shares till this date then you will get benefit

What is the target price?
Brokerage firm Anand Rathi has expressed hope for a rise in the shares of Sterling & Wilson. The brokerage has given a ‘buy’ rating to the stock in its research report dated August 29, 2024 and has set a target price of ₹ 870. This is about 30% higher than the current price. The brokerage firm wrote in its note, “Globally, renewable energy capacity increased by a record 507 GW in 2023, which is 50% more on an annual basis. India is expected to have 500 GW of capacity by the year 2030 (192 GW at the end of FY 2024), which will benefit EPC companies. Sterling & Wilson is a pure-play global solar EPC and O&M service provider.” The brokerage says that the company will benefit from this growth.

The company turned profitable from loss in the first quarter
Sterling & Wilson has reported a net profit of ₹4.83 crore in the June quarter. It had a net loss of ₹95.32 crore in the same period last year. The company’s total income increased to ₹927.89 crore from ₹522.35 crore in the same quarter a year ago. Expenses during the quarter stood at ₹913.23 crore, while a year ago it was ₹617.68 crore.

(Disclaimer: The stocks mentioned here are based on the advice of brokerage houses. If you want to invest money in any of these, then first consult a certified investment advisor. AyraNews24x7 will not be responsible for any kind of profit or loss of yours.)

Tag: Business News, Money making tips, Stock Market, Stock Tips