Stock under Rs 100: This small-cap company receives order worth Rs 40 crore from NLC India Ltd!

The stock is up by 18 per cent in just 1 month and over 50 per cent in 6 months.

Inox Green Energy Services Ltd (IGESL), India’s leading wind power operations and maintenance (O&M) service provider, announced today that its subsidiary I-Fox Windtechnik India Private Limited has won an order from NLC India Ltd, a Navratna PSU of Govt of India, for the O&M of 51MW WTGs located in the state of Tamil Nadu. The scope of the contract comprises comprehensive O&M, including a power evacuation system, for a period of 5 years with a revenue realisation of Rs 40 crore (inclusive of taxes) during the contract period.

Mr SK Mathu Sudhana, the CEO of IGESL, on this important development, remarked, "LoA from one of the largest PSUs is an important milestone in the growth journey of IGESL as well as of our subsidiary IFox Wind. The order demonstrates the faith which our clients have in our services and endorses the capabilities which we have built over the years. We are progressing towards our goal of reaching a WTG O&M portfolio of 6GW by FY26, through a mix of organic and inorganic growth.”

Incorporated in 2012, Inox Green Energy Services Limited is one of the major wind power operation and maintenance (O&M) service providers within India. The company is a subsidiary of Inox Wind Limited (IWL) and part of the Inox GFL group of companies. The company has a market cap of over Rs 2,000 crore and reported excellent numbers in its Quarterly Results (Q1FY24).

On Monday, shares of IGESL surged 3.43 per cent to Rs 69.28 per share with an intraday high of Rs 69.80 and an intraday low of Rs 67.10. The stock is up by 18 per cent in just 1 month and over 50 per cent in 6 months. Investors should keep an eye on this Small-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.