1,276-MW order book and FIIs & DIIs increase stake: This multibagger heavy electrical company receives an order for 50 MW wind project from NLC India Ltd!
The stock delivered impressive returns, surging 180 per cent in 6 months, 360 per cent in 1 year and a whopping 600 per cent in 3 years.
Inox Wind Limited (IWL), India’s leading wind energy solutions provider, has received a letter of intent (LoI) for executing a 50 MW ISTS-connected wind power project on a turnkey basis from NLC India Limited, a Navratna CPSU.
As part of the project, Inox Wind will supply, install and commission its DF 113/92 - 2.0 MW capacity Wind Turbine Generators (WTGs), and provide comprehensive operations & maintenance (O&M) services for over 10 years post-commissioning. The project will be executed at the mega Dayapar site in the Kutch district of Gujarat.
Inox Wind Limited is a part of the Inox Group. The company is engaged in the business of manufacturing Wind Turbine Generators (WTGs) and is a wind energy solutions provider servicing IPPs, Utilities, PSUs, corporations and retail investors. Inox Wind Ltd is a fully integrated player in the wind energy market and provides end-to-end turnkey solutions.
The company has a market cap of over Rs 15,000 crore with a 3-year stock price CAGR of 100 per cent. According to the shareholding pattern, the promoters of the company own 64.64 per cent, FIIs own 3.48 per cent, DIIs own 6.54 per cent and the rest of the stake is owned by the general public i.e., 25.34 per cent as of September 2023. The company’s order book stands at Rs 1,276 MW as of September 2023.
Today, shares of Inox Wind Ltd plunged 4 per cent to Rs 475.10 per share from its previous closing of Rs 494.90 per share with an intraday high of Rs 512.20 and an intraday low of Rs 468.85. The shares of the company saw a spurt in volume by more than 2.61 times on BSE. As of September 2023, FIIs have increased their stake to 3.48 per cent and DIIs have increased their stake to 6.54 per cent compared to 2.57 per cent and 0.09 per cent respectively in June 2023.
The stock delivered impressive returns, surging 180 per cent in 6 months, 360 per cent in 1 year and a whopping 600 per cent in 3 years. Investors should keep an eye on this multibagger stock under the radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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