Inox Wind shares surge on securing 200 MW order from renewable power producer

9 Jul 2024 , 03:59 PM

Inox Wind’s share price increased by 3% in early trade on July 9 following the company’s acquisition of a 200 MW order from a renewable C&I power producer.

At the time of writing at 3:50 pm, shares of Inox Wind closes at ₹160.60 which is a 1.55% gain than the previous close. The stock has gained a total of 225% in the last one year, and 22% since the beginning of the year.

The order pertains to Inox Wind’s latest 3 MW Wind Turbine Generators (WTGs) and includes complete turnkey execution. Inox Wind will also provide post-commissioning multi-year operations & maintenance (O&M) services for the project. The project spans across Gujarat and Rajasthan.

Recently, the company received a ₹900-crore capital infusion from promoter Inox Wind Energy Limited (IWEL) through equity share sales in block deals on stock exchanges.

Inox Wind operates four manufacturing facilities across Gujarat, Himachal Pradesh, and Madhya Pradesh, producing blades, tubular towers, hubs, and nacelles with a capacity of approximately 2.5 GW per annum under its MW series WTG offering.