Stock Market Today: Inox Wind Share price has gained 25% in five straight sessions. What is driving gains for the stocks and is it a stock to Buy or Sell?
Inox Wind share price movement
Inox Wind share price opened at ₹164.90, on the BSE on Tuesday, almost 2% higher than the previous close of ₹161.75. The Inox Wind thereafter gained further to intraday highs of ₹175.95 which translated into gains of more than 8%
Inox Wind share price from closing lows of ₹134.93 has risen to intraday highs of ₹175.95 today marking gains of more than 25% in past 5 sessions
Inox Wind Q3 Results
Supported by rising revenues from operations, Inox Wind Ltd. (IWL) had announced a multifold increase in consolidated net profit or Profit after tax (PAT) to ₹116.65 Crore crore on Friday. The net profit stood at ₹1.07 crore in the year ago quarter.
During the October–December period of 2023–24, the company’s consolidated revenues increased 96% to ₹994 crore from ₹507 crore.
By the end of the third quarter of the current fiscal year, Inox Wind’s order book had grown to 3,286 MW, a 28% increase from 2,575 MW during the same period last year.
Inox Wind Analyst Views
Inox Wind ‘s subsidiary, Inox Green Energy Services Ltd., is India’s only listed wind O&M services company, said Seema Srivastava, Senior Research Analyst at SMC Global Securities. It has a strong portfolio of ~ 3.5 GW and a multi-fold growth path ahead. The renewable energy company reported strong Q3 results in FY25, with revenue growth and CAPEX expansion. The company aims to execute its Ahmedabad plant in the next financial year and has a strong order book of 1.4 GW.
Looking beyond Inox Wind’s fundamentals, the Government of India continues to award large renewable capacities, particularly in the hybrid / RTC / FDRE space, which bodes well for the demand for the wind sector. We continue to be fully geared to take advantage of this massive impending opportunity in the Indian renewable space over the next decade, added Srivastava
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.