Infomerics Rating reaffirms 'BBB+' rating of Sterling and Wilson Renewable
Sterling and Wilson Renewable Energy said that Infomerics Valuation and Rating has reaffirmed its 'IVR BBB+' rating on the long-term facilities of the company with 'stable' outlook.
The agency has assigned 'IVR A2 rating to the short-term facilities of the company.
Infomerics Valuation and Rating stated that the its ratings reaffirmed on the bank facilities of Sterling and Wilson Renewable Energy (SWREL) as it derives comfort from the improvement in operating performance, strong order book, reputed counterparties, moderate capital structure and satisfactory debt protection metrics, indemnification against legacy claims/non-recovery of receivables, established presence in the solar segment and part of strong promoter group.
However, these rating strengths are partially offset by the overhang of contingent liabilities, susceptibility to price volatility and project execution risks.
The agency further said that an improvement in the revenue and profitability while maintaining comfortable order book visibility, leading to improved liquidity and credit profile could lead to a rating upgrade.
However, delays in execution of orders resulting in decline in scale and profitability and elongation in the working capital cycle; crystallisation of any material contingent liability other than liabilities under the purview of indemnity agreement and/or BG invocation, impacting the liquidity profile; and weakening of linkages with Reliance Group could result in adverse rating action.
Sterling and Wilson Renewable Energy (SWREL) is engaged in EPC and O&M for solar power plants. The company has a presence over 25 countries including India, Africa, USA, Australia, Latin America and the Middle East among other countries.
The scrip fell 2.79% to currently trade at Rs 320 on the BSE.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
2 hours ago
- Time of India
Sensex skids 573 pts as foreign funds sell
Representational AI image MUMBAI: The sensex and Nifty opened sharply lower on Friday over Israel's strikes in Iran, which in turn put crude oil prices on the boil. However, the two indices pared some losses through the session even as investors remained cautious. At close, the sensex was down 573 points or 0.7% at 81,119 points while Nifty was down 170 points or 0.7% at 24,719 points. According to a note from Bajaj Broking, leading indices on Friday extended their losing streak for the second session, weighed down by escalating geopolitical tensions in West Asia and persistent global trade headwinds, which dented overall risk appetite. 'The market witnessed a broad-based selloff, with all key sectoral indices ending in negative territory, while India VIX spiked, reflecting heightened volatility and investor anxiety. ' The day's session left investors poorer by about Rs 2.4 lakh crore with BSE's market capitalisation now at Rs 447.2 lakh crore. The day's selling was led by foreign funds with a net selling figure of Rs 1,264 crore. On the other hand, domestic funds were net buyers at Rs 3,041 crore. Gold climbs to Rs 1 lakh/10gm mark The escalating conflict sent gold prices rallying on Friday. In the international market, the price of the yellow metal was up about 2% in late evening trades while in the domestic market, on MCX, gold futures for all the three months—Aug, Oct and Dec—traded above the Rs 1-lakh/10gram mark. . Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hans India
3 hours ago
- Hans India
Middle East conflict hits stocks of crude oil-sensitive firms
New Delhi: Shares of crude oil sensitive sectors — oil marketing companies, aviation, paints, adhesives and tyres — declined on Friday following a spike in global oil benchmark Brent crude prices amid escalating tensions in the Middle East. The stock of BPCL fell by 1.90 per cent, Indian Oil Corporation dropped 1.78 per cent and HPCL declined 1.41 per cent on the BSE. In intra-day trade, BPCL tanked 6.11 per cent, Hindustan Petroleum Corporation Ltd tumbled 5.34 per cent and Indian Oil Corporation dropped 3.91 per cent. Shares of InterGlobe Aviation edged lower by 3.71 per cent and those of SpiceJet dipped 1.95 per cent. During the day, SpiceJet fell 5.64 per cent and InterGlobe Aviation dropped 5.62 per cent. Global oil benchmark Brent crude jumped 8.39 per cent to USD 75.20 a barrel. 'Geopolitical tensions are heating up, and it's impacting the oil market! Israel's airstrikes on Iran have sparked fears of supply disruptions, causing crude oil prices to surge. The worry is that the situation could escalate into a full-blown regional crisis, which would have significant implications for global oil supplies,' Navneet Damani, Group Senior VP, Head Commodities Research, Motilal Oswal Financial Services Ltd, said.
Time of India
11 hours ago
- Time of India
Rakesh Jhunjhunwala family fully exits Nazara Technologies
BENGALURU: The family of late investor Rakesh Jhunjhunwala has fully exited its stake in Nazara Technologies through open market transactions on Friday.. According to stock exchange disclosures, Rekha Rakesh Jhunjhunwala, executor to the estate of late Rakesh Jhunjunwala, sold 27.2 lakh shares, worth Rs 333.8 crore, through bulk deals in the open market executed on both the NSE and BSE. Tired of too many ads? go ad free now Prior to that, the estate sold 17.2 lakh shares of the company stock through June 9th to 12th. With the deals combined, the Jhunjhunwala family no longer holds any stake in the gaming and esports firm. Nazara Technologies, which went public in March 2021, operates across multiple segments including mobile gaming, esports, and gamified learning. The company has expanded its presence beyond India into markets such as North America, the Middle East, and Africa. Jhunjhunwala, who passed away in August 2022, had built a significant position in Nazara Technologies post-IPO. Jhunjhunwala had first put Rs 180 crore in the Mumbai-based company in 2017. Nazara Technologies has completed multiple acquisitions in 2025 so far. In January, it acquired two mobile game titles from ZeptoLab for $7.7 million. In May, it acquired UK-based game publisher Curve Games for Rs 247 crore. During the same month, its subsidiary Sportskeeda acquired two wrestling news platforms from Titan Insider Digital in an all-cash transaction valued at Rs 10.5 crore.
