In a large saucepan, brown the beef, half at a time, in hot oil. Spoon out the fat from the pan and discard.
Stir in the water, onion, sherry, soy sauce, ginger and sugar. Bring to a boil; reduce heat and simmer covered for 1 to 1¼ hours, or until beef is tender. Place carrots in the pan when about 30 minutes are left.
Stir in the broccoli, red pepper and water chestnuts. Cover and simmer about 10 minutes, or until meat and vegetables are tender.
Stir together ¼ cup water and cornstarch; stir into the stew. Cook and stir until thickened and bubbly, about 2 more minutes.
If desired, serve with additional soy sauce.
Notes
If you are preparing this recipe as gluten-free, be sure to use a brand of soy sauce that is known to be GF
You can substitute pork for beef, if desired. Reduce simmer time to 30 minutes for pork.
WW Points were calculated using lean beef chuck for the stew meat.