India's Sterling & Wilson up as Anand Rathi starts with "buy"

Sterling and Wilson Renewable Energy

30/08/2024 08:47

** Sterling and Wilson Renewable Energy  STEN.NS  up 1.4%
    ** Anand Rathi starts with 'buy', citing "inspiring" growth
opportunities
    ** Expects solar orders of 496 bln rupees ($5.91 bln) over
FY25-27, with 93.5 bln from Reliance  RELI.NS  alone
    ** Says RELI's plan to ramp up renewable energy capacity to
help boost STEN; Reliance New Energy holds ~33% stake in STEN
    ** Brokerage sets PT of 870 rupees on STEN vs current price
of about 672 rupees
    ** Stock up ~56% YTD, while RELI has risen just under 17%

($1 = 83.8575 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))