Inox Wind soars nearly 9% as firm is set to discuss bonus equity share issuance in Board meeting

Inox Wind Share Price: Inox Wind soared by nearly nine per cent on BSE on Tuesday (April 23, 2024) after the renewable energy company announced that its Board would consider and approve the proposal for issuance of bonus equity shares in a meeting on April 25.

Starting its journey at Rs 640.00 on Tuesday, the stock of Inox Wind raced to the day's high of Rs 645.75, a 8.93 per cent rise from its previous close of Rs 592.80.

The stock of the company closed trading higher by 1.10 per cent, or Rs 6.55, at Rs 599.35 on Tuesday.

Inox Wind shares nearly touched their 52-week high of Rs 648.00 on Tuesday.

In a statement to bourses on Monday, Inox Wind wrote: "A Meeting of the Board of Directors of the Company is scheduled to be held on Thursday, 25th April, 2024, inter-alia, to consider and approve the proposal for issuance of Bonus Equity Shares to the shareholders of the Company."

What is Inox Wind?

Inox Wind is a fully integrated player in the wind energy market with state-of-the-art manufacturing plants at Una (Himachal Pradesh) for hubs and nacelles, near Ahmedabad (Gujarat) for blades and tubular towers, the company writes on its website.

Inox Wind also has an integrated manufacturing unit at Barwani district in Madhya Pradesh.