Sterling and Wilson Solar rises for third day; adds nearly 60% this year

Sterling and Wilson Solar jumped 8.33% to Rs 420, extending gains for third day.

The stock has added 18.33% in three sessions, from its recent closing low of Rs 354.95 recorded on 24 September 2021.

On a year-to-date (YTD) basis, the stock has added 59.85% while the benchmark Sensex has gained 24.43% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 76.432. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day, 100-day and 200-day daily simple moving average (SMA) placed at 312.83, 284.03 and 273.83, respectively.

Sterling and Wilson Solar (SWSL), a Shapoorji Pallonji group company, is a global pure-play, end-to-end solar engineering, procurement and construction (EPC) solutions provider.

The company reported a consolidated net loss of Rs 76.02 crore in Q1 FY22 as against a net profit of Rs 17.22 crore in Q1 FY21. Net sales jumped 11.9% to Rs 1,194.63 crore in Q1 FY22 from Rs 1,067.90 crore in Q1 FY21.

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