Its total income from operations declined by 89 percent to Rs 87.15 crore in the second quarter of this fiscal from Rs 816.06 crore a year ago.
"The company has won 250 MW in the SECI-II auction representing a 25 per cent market share. The bid was won at a fixed price of Rs 2.65/unit for 25 years," Inox Wind said in a BSE filing.
"The capacity was won under the round 1 of SECI bids for wind power projects connected on the central grid. The project is scheduled to be executed over the next 6-9 months and will be executed on a turnkey basis".
The company had posted a consolidated net profit of Rs 11.82 crore in the quarter ended on June 30, 2016, Inox Wind Ltd said in a BSE filing.
The liquidity flow continues into Indian markets both from global investors as well as from domestic investors which is pushing valuations of most of the stocks slightly ahead of their long term averages.
Ashwani Gujral of ashwanigujral.com recommends buying Chambal Fertiliser, Ramco System and Mahindra & Mahindra.
Inox said it has already settled the matter with Jeena & Co. and paid the amount due in relation to the case pending with National Company Law Tribunal.
Inox Wind Ltd (IWL) today said it has moved the National Company Law Appellate Tribunal, seeking quashing of insolvency resolution proceedings ordered by the NCLT on a plea of one of its creditors.
The rating agency has also reaffirmed 'A1+' rating for the company's short-term bank loan facilities, it said in a BSE filing.
Sharmila Joshi of sharmilajoshi.com recommends selling Suzlon Energy.
KR Choksey recommended hold rating on Inox Wind with a target price of Rs 171 in its research report dated May 16, 2017.
Operating profit during the quarter declined 23.2 percent to Rs 229.5 crore but margin expanded by 630 basis points to 22.5 percent on year-on-year basis.
Of over 300 companies, more than 160 companies saw a surge in FIIs holding in January-March quarter of the previous financial year.
According to Ashwani Gujral of ashwanigujral.com, one can buy Havells India, Indian Oil Corporation and Inox Wind.
Vijay Chopra of enochventures.com advises buying Reliance Capital with a target of Rs 625.
Watch the interview of Prakash Diwan, Market Expert at Altamount Capital Management with Latha Venkatesh, Anuj Singhal & Sonia Shenoy on CNBC-TV18, in which he shared his readings and outlook on market and specific stocks.
First, the big picture. The victory fashioned by Modi in India‘s politically most important state will inevitably be seen as a thumbs up for demonetisation; the failure of the Aam Aadmi Party in expanding beyond Delhi will also reassure those who want no threat, however small, to a dominant single party at the Centre.
SP Tulsian of sptulsian.com, explains why he is bullish on Dish TV. He also talks about some energy and sugar stocks.
KR Choksey is bullish on Inox winds has recommended buy rating on the stock with a target price of Rs 360 in its research report dated March 08, 2017.
Coal India | ONGC | L&T | Canara Bank | Bajaj Hind | Tata Power | Jain Irrigation | Amtek Auto | Jindal Stainless | Inox Leisure | IL&FS Engineering | Power Grid | Ruby Mills | Emami | SBI | Gayatri Projects | Mahindra CIE and GVK Power are stocks, which are in news today.
"The NCDs will carry a coupon rate of 8.33 percent (payable semi-annually) and are guaranteed by the company," the company said in a regulatory filing.
HDFC Securities is bullish on Inox Wind has recommended buy rating on the stock with a target price of Rs 298 in its research report dated February 04, 2017.
Infosys | TCS | Wipro | Canara Bank | Dr Reddy's Labs | Idea Cellular | Lupin | Emami | ACC | Jet Airways | Novartis India | Quick Heal | Indian Hotels | CARE | Gravita India | OBC | Divis Labs | J&K Bank | JK Cement and Grasim are stocks, which are in the news today.
As many as 128 pacts worth about Rs 4.25 lakh crore in sectors like healthcare and mining were signed on the first day of the Andhra Pradesh investment summit here today.
Mitessh Thakkar of miteshthacker.com recommends selling Ceat and advises buying GAIL India, Aban Offshore, Inox Wind and Raymond.