Inox Wind stock jumps 10% to climb new peak; triples investors' money in a year

Inox Wind Limited (IWL) is on of India’s leading wind energy solutions provider servicing IPPs, utilities, PSUs & corporate investors.

Shares of Inox Wind surged over 10 percent on July 12 to hit an intraday high of Rs 175 on the National Stock Exchange (NSE). The stock has been in focus as investors expect that the upcoming Union Budget announcements may include continued focus on renewable energy by the government.

Industry players expect policy stability and investment in the sector. Additionally, a recent order bagged by the firm has also boosted the stock.

Inox Wind announced earlier this week that it bagged an order for 200 MW from a renewable C&I power producer. The order is for company's latest 3 MW Wind Turbine Generators (WTGs) and the scope comprises of end-to-end turnkey execution.

Additionally, Inox Wind will provide post-commissioning multi-year operations & maintenance (O&M) services. The project will be executed across the states of Gujarat and Rajasthan. Last week, the company received a Rs 900-crore capital infusion from promoter Inox Wind Energy Limited (IWEL).

The fund was raised through the sale of equity shares of the company, in block deals on stock exchanges, attracting participation from several high-profile investors.

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Inox Wind is a fully integrated player in the wind energy market with four manufacturing plants in Gujarat, Himachal Pradesh and Madhya Pradesh, where blades, tubular towers, as well as hubs & nacelles are manufactured. With its MW series WTG offering, Inox Wind's manufacturing capacity stands at around 2.5 GW per annum.

The company operates four manufacturing facilities capable of producing blades, tubular towers, hubs, and nacelles, with an annual capacity of approximately 2.5 GW under its MW series WTG offering.

At 12:45 pm, Inox Wind shares were trading over 4 percent higher at Rs 167.54 on NSE. So far this year, the stock has surged around 28 percent, beating benchmark Nifty's returns of 12 percent during this period.

In the last one year, the multibagger stock has zoomed over 247 percent, more than tripling investors' money. In comparison, benchmark Nifty rose around 26 percent during this period.

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