Shares of Inox Wind Limited (IWL) gained over 6% on Monday after the firm said the execution of the 990 MW turnkey order out of the 1,500 MW framework agreement signed was in full swing across multiple locations in the states of Gujarat, Rajasthan and Madhya Pradesh.
The multibagger stock climbed 6.20% to Rs 172.80 on April 21 against the previous close of Rs 162.70 on BSE. Market cap of Inox Wind climbed to Rs 22,001 crore on BSE. Total 4.63 lakh shares of the firm changed hands amounting to a turnover of Rs 7.85 crore on BSE.
Inox Wind shares have a beta of 1.7, indicating high volatility in a year. The multibagger green energy stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day but lower than the 100 day, 150 day and 200 day moving averages.
Inox Wind has received all the advances related to these projects and commissioning is expected in phases from FY26 onwards. This order from Purvah Green Private Limited, a subsidiary of CESC Ltd., is the single largest wind order awarded by an IPP in India to any wind OEM.
Kailash Tarachandani, Group CEO, Inox Wind said, said, “We are pleased to announce that we are now executing the entire 990 MW of turnkey project for Purvah across multiple locations. We will commence the commissioning of the project in a phased manner starting FY26. This is a milestone order for Inox Wind from an esteemed customer and we are confident of deepening our relationship further.”
Inox Wind Limited (IWL) is India’s leading wind energy solutions provider servicing IPPs, Utilities, PSUs & Corporate investors. IWL is a part of the US$ ~ 12 BN INOXGFL Group which has a legacy of over nine decades and is primarily focused on two business verticals – chemicals and renewable energy.
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