Sterling & Wilson Solar's shares hit record low on coronavirus worries

A Sterling and Wilson solar park. (Photo: Business Wire)

March 5 (Renewables Now) - The shares of India’s Sterling and Wilson Solar Ltd (BOM:542760) fell to their weakest level on record on Thursday on the BSE stock exchange amid worries about the impact of the coronavirus outbreak on the company's profits.

The company's shares hit a record low level of INR 140.7 (USD 1.91/EUR 1.71), before recovering some ground to trade at INR 146.5 at 1600 local time.

The company offers engineering, procurement and construction (EPC) services in the solar sector. Last month, the firm warned about the significant effects from the coronavirus quarantines it expects on its revenues because of delays in shipping from its suppliers.

As a result, the share price of the EPC provider has lost over 50% in the past month, while also slumping 82% from its initial public offering (IPO) price of INR 780 apiece.

(INR 100 = USD 1.363/EUR 1.218)

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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.

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