Sterling And Wilson Solar Gains On Order Win, But SEBI Analyst Flags Bearish Signs

Sterling and Wilson Solar shares rose nearly 2% on Wednesday after the company secured a significant order to set up a solar power project in Rajasthan.

The company received a Letter of Intent from a leading private independent power producer for a balance-of-system EPC package to develop a 300 MW AC / 420 MWp DC solar PV project, along with a 220/33 kV pooling substation in Rajasthan. 

The total contract value is about ₹415 crore, including operations and maintenance and taxes.

Earnings And Growth Drivers

The company recently reported a 680% year-on-year surge in first-quarter (Q1) net profit, supported by a substantial increase in revenue. 

It has also secured new domestic and international contracts and drawn acquisition interest from the Reliance Group, adding to investor attention.

Technical View

SEBI-registered analyst Sameer Pande said the stock’s 20-day exponential moving average is at ₹272.05, with current price action just above this level but flashing mildly bearish signals. 

Across timeframes, the 20-day exponential moving average (EMA) remains a key support and resistance zone, he added.

The Supertrend indicator sits at ₹289.06, above the current price, which suggests a mild bearish bias on both the daily and weekly charts. 

Outlook

Pande highlighted that the 20-day volume-weighted average price is ₹324.35, and the stock is still trading below that mark. 

Short-term and intraday Volume-Weighted Average Prices (VWAPs) are also higher than the market price, confirming downward momentum across timeframes.

According to Pande, overall technicals remain mildly bearish. A sustained move above the VWAP and the 20-day EMA could signal a trend reversal, although resistance remains at the Supertrend level.

What Is The Retail Mood?

On Stocktwits, retail sentiment was ‘neutral’ amid ‘normal’ message volume.

Sterling and Wilson Solar’s stock has declined 42.6% so far in 2025.

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