Inox Wind shares clock 52-week high as the company bags 279 MW order

Inox Wind share price BSE: Inox Wind shares jumped over 4 per cent on Tuesday, December 26, and clocked a 52-week high of Rs 479.95 apiece on the BSE. The stock is Rs 14.75 away from its all-time high of Rs 494.7 apiece, which was recorded on April 15, 2015, on the BSE. The stock drew buying interest after the company received an order from a large commercial and industrial (C&I) player.

At around 9:56 a.m., shares of Inox Wind traded 4.27 per cent or Rs 19.35, at Rs 472.05 apiece on BSE. The market capitalisation of the company stood at Rs 15,404.33 crore at around the same time.

On Tuesday, before market hours, Inox Wind informed investors that it had received an order for 279 MW from a large C&I player.

It added that the order is for Inox Wind’s latest 3 MW Wind Turbine Generators (WTGs), and the scope comprises a mix of equipment supply with limited scope EPC for 180 MW and end-to-end turnkey execution for 99 MW.

As per the filing, additionally, the wind energy solutions provider will also provide post-commissioning multi-year operations and maintenance (O&M) services.

The project will be executed by June 2025, with the WTGs being installed across Rajasthan and Gujarat. This repeat order is from a large C&I customer for which Inox Wind has already executed 325 MW of orders to date.

Inox Wind Limited is a fully integrated player in the wind energy market with four state-of-the-art manufacturing plants in Gujarat, Himachal Pradesh, and Madhya Pradesh, where blades, tubular towers, hubs, and nacelles are manufactured.

Inox Wind share price: Past performance 

Since January 2023, shares of Inox Wind have given a multi-bagger return of over 334 per cent against the Nifty 50's rise of over 17 per cent. 

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