Inox Wind Limited (IWL), a prominent player in the wind energy sector in India, has clinched a substantial order of 279 megawatts from a major Commercial and Industrial (C&I) player. This latest project, featuring IWL’s state-of-the-art 3-MW Wind Turbine Generators (WTGs), reinforces the company’s strong position in the market. As the order includes end-to-end turnkey execution for a portion and limited scope EPC for another, Inox Wind is set to play a pivotal role in expanding the renewable energy landscape in Rajasthan and Gujarat.
Inox Wind’s Expanding Services:
In addition to equipment supply and limited scope EPC for 180 MW, Inox Wind will provide complete end-to-end turnkey execution for 99 MW. The company will also offer multi-year operations and maintenance (O&M) services post-commissioning, further solidifying its commitment to sustainable energy solutions. The project is slated for completion by June 2025.
About Inox Wind Limited:
As part of the Inox Group, Inox Wind Limited specializes in the manufacturing of Wind Turbine Generators (WTGs) and offers end-to-end turnkey solutions in the wind energy market. With a market cap exceeding Rs 15,000 crore, the company has demonstrated robust performance, boasting a 3-year stock price Compound Annual Growth Rate (CAGR) of 100 percent. The company’s order book currently stands at an impressive 1,276 MW as of September 2023.
Stock Performance:
Today’s trading session witnessed a remarkable surge in shares of Inox Wind Ltd, reaching an intraday and 52-week high of Rs 479.95 per share, a 6 percent increase from the previous closing at Rs 452.70 per share. At the closing bell, the shares were trading at Rs 465.25 per share, reflecting a 2.77 percent increase.
The stock has consistently delivered outstanding returns, experiencing a surge of 210 percent in the last 6 months, 350 percent in the past year, and an impressive 700 percent over the last 3 years. With such remarkable performance, Inox Wind Ltd emerges as a multibagger stock, making it a compelling choice for investors.
