Shares of Inox Wind gained for the third consecutive session amid high volatility in the broader market today. The multibagger stock has already clocked 595.67% in two years and risen 511% in three years. Inox Wind reclaimed the Rs 200 mark on December 2 and the stock has held on to that level since then. Inox Wind stock has gained 130% from its 52 week low of Rs 90.84 reached on December 11, 2024.
In the current session, Inox Wind shares rose to Rs 213.80 against the previous close of Rs 209.75 on BSE. Market cap of Inox Wind rose to Rs 27,216 crore on BSE. Total 2.31 lakh shares of the firm changed hands amounting to a turnover of Rs 4.86 crore on BSE. The stock has gained 39.32% in six months and risen 59.45% in 2024.
Inox Wind shares have a beta of 1.4, indicating high volatility in a year. The multibagger green energy stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 150 day, 200 day but lower than the 50 day and 100 day moving averages.
Nuvama has maintained its buy call on the green energy stock with a target price of Rs 233.
"Inox Wind remains a key player in the C&I segment and benefits from a duopolistic market in wind EPC. Robust OI in H1FY25 (at 1.2GW) has led to an OB of 3.5GW (execution over 24 months); it lends revenue visibility. We remain positive on the sector, and factor in execution of 1.25GW/1.8GW in FY26E/27E, yielding a price target of Rs 233 at 30x FY27E WTG EPS + DCF of O&M (Inox Green); maintain ‘BUY’, said Nuvama.
Axis Securities has assigned a price target of Rs 270 on the green energy stock.
The brokerage said sector outlook is positive.
"The company has execution guidance of 800 and 1,200 MW for FY25 and FY26 respectively. Amidst strong sector tailwinds and its improved execution capability, it sees upside risk to the 1,200 MW execution guidance for FY26 and it has a target of 2 GW of annual execution for FY27. Its supply chain is ready for 1 GW execution and it will be ready for 2 GW by the end of FY25. The company has 2 GW of sites available on a plugand-play basis along with substations and infrastructure ready for higher execution. The annual capex guidance for FY25/26 remains unchanged at Rs 50-75 Cr, and the full-year working capital guidance is at 90 days," said Axis Securities.
ICICI Securities has a price target of Rs 245 on the Inox Wind stock.
"The INOXGFL group is spreading its wings beyond WTG (and related services) to become a forward-integrated comprehensive renewables player. The vision of the group is to be present across the value chain in India?s pursuit for energy transition. The group aims to leverage the solid foundation of Inox Wind to piece together the rest of the puzzle. ICICI Securities is maintaining a BUY at a target price of Rs 245," said ICICI Securities.
Inox Wind is an India-based integrated wind energy solutions provider. The company is engaged in the business of manufacture and sale of wind turbine generators (WTGs). It also provides erection, procurement and commissioning (EPC), operations and maintenance (O&M) and common infrastructure facilities services for WTGs and wind farm development services.