Inox Wind shares in news today as firm bags repeat order

Shares of Inox Wind Limited (IWL) are in focus today as the company received a repeat turnkey order for 87 MW from Continuum Green Energy for its 3 MW class WTGs. Inox Wind shares fell 2.2% to Rs 204.70 on Monday against the previous close of Rs 209.30 on BSE. Market cap of Inox Wind slipped to Rs 26,688 crore on BSE. 

Total 4.77 lakh shares of the firm changed hands amounting to a turnover of Rs 9.83 crore on BSE.

The stock has gained 50.67% in six months and risen 56.39% in 2024. The multibagger stock has climbed 244.45% in a year and gained 537% in two years.

Inox Wind shares have a beta of 1.5, indicating high volatility in a year. The multibagger green energy stock is trading lower than the 5 day, 10 day, 20 day, 30 day , 50 day and higher than the 100 day, 150 day and 200 day moving averages.

"This repeat order from Continuum is for IWL’s 3 MW Wind Turbine Generators (WTGs) and will be executed on an end-to-end turnkey basis. Additionally, IWL will provide post commissioning multi-year operations & maintenance (O&M) services. The project will be executed in the states of Gujarat and Rajasthan. The addition of this order takes the total cumulative orders from Continuum to ~ 700 MW, and IWL’s orderbook to >3.4 GW, the highest ever in its history," said Inox Wind.

Kailash Tarachandani, Group CEO, Inox Wind said, "We are delighted to announce yet another order from Continuum, an esteemed customer with whom we enjoy a very strong partnership. Our state-of-the-art 3 MW turbines and our exceptional turnkey wind capabilities continue to be strongly preferred by project developers. While our orderbook is the highest ever, we are witnessing strong demand from customers across the spectrum as most developers are now working on hybrid / round-the-clock / FDRE solutions, comprising of a high proportion of wind capacity." 

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.