Shares of Inox Wind jumped over 10% to hit an intraday high of ₹175 on the National Stock Exchange (NSE) on July 12. This surge comes as investors anticipate favorable announcements for renewable energy in the upcoming Union Budget.
Key Drivers
Industry experts are hopeful for policy stability and continued investment in renewable energy. Additionally, Inox Wind recently secured a significant order, further boosting its stock.
Major Order and Investment
Earlier this week, Inox Wind announced a 200 MW order from a renewable commercial and industrial power producer. This order includes the company’s latest 3 MW Wind Turbine Generators (WTGs) and involves complete turnkey execution. Inox Wind will also provide multi-year operations and maintenance (O&M) services post-commissioning. The project will be carried out in Gujarat and Rajasthan.
Last week, Inox Wind received a ₹900 crore capital infusion from its promoter, Inox Wind Energy Limited (IWEL), through the sale of equity shares in block deals. This attracted several high-profile investors.
Company Overview
Inox Wind is a fully integrated player in the wind energy sector with four manufacturing plants located in Gujarat, Himachal Pradesh, and Madhya Pradesh. These facilities produce blades, tubular towers, hubs, and nacelles, with an annual manufacturing capacity of around 2.5 GW.
Market Performance
At 12:45 pm, Inox Wind shares were trading over 4% higher at ₹167.54 on the NSE. The stock has surged around 28% this year, outperforming the benchmark Nifty’s 12% gain. Over the past year, Inox Wind’s stock has soared more than 247%, tripling investors’ money, while the Nifty rose around 26% during the same period.
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