Sterling & Wilson Share Price Hits Upper Circuit As Q3 Operating Profit Quadruples

Sterling and Wilson Renewable Energy Ltd. share price hit the 10% upper circuit as the company reported that its profit had quadrupled during the October–December quarter. The company reported that its consolidated Ebitda surged 333.9% on the year to Rs 70.3 crore in the third quarter from Rs 16.2 crore.

Sterling and Wilson Renewable Energy reported that its consolidated revenue jumped 215% on the year to Rs 1,837 crore from Rs 583 crore. Its margin for the quarter stands at 3.82%.

Sterling and Wilson Renewable Energy's net profit for the quarter stood at Rs 17.1 crore.

Sterling and Wilson Renewable Energy share price hit 10% upper circuit and rose to Rs 466.75 apiece, the highest level since Jan. 6. As of 2:42 p.m., the stock was trading 9.37% higher at Rs 464.10 apiece, as compared to a 0.38% advance in the NSE Nifty 50.

The stock has risen 1.13% in 12 months. Total traded volume so far in the day stood at 4.7 times its 30-day average. The relative strength index was at 50.81.

Five analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 77.3%.