Inox Wind shares gain 3% on 200 MW order win

Inox Wind

Inox Wind share price rose 3 percent in the early trade on July 9 after the company bagged an order for 200 MW from a renewable C&I power producer.

At 09:21am, Inox Wind was quoting at Rs 162.80, up Rs 4.50, or 2.84 percent, on the BSE.

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.

Catch all market action in our live blog

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.

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.

Inox Wind 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.

The share touched a 52-week high of Rs 177 and a 52-week low of Rs 42.78 on 27 May, 2024 and 10 July, 2023, respectively.

Currently, the stock is trading 8.02 percent below its 52-week high and 280.55 percent above its 52-week low.