This is the reason why the multibagger green energy stock sets a new session high.
Comparing the multibagger stock to the previous closing on the BSE of Rs 208.50, it increased 13.66% to Rs 237. The company’s market value increased to Rs 29,087 crore.
Tuesday saw a new all-time high for Inox Wind shares as the renewable energy company announced that it had secured a 51 MW contract from a major participant in the commercial and industrial (C&I) market, Everrenew Energy Private Ltd. On Tuesday, the stock hit a record high for the second straight session. Comparing the multibagger stock to the previous closing on the BSE of Rs 208.50, it increased 13.66% to Rs 237. Inox Wind’s market value increased to Rs 29,087 crore on the BSE. The stock has increased 70.68% since the start of the year and 327% in only one year.
In two years, the stock had increased by 697%. In five years, the stock likewise produced multibagger gains, returning 1789%.
A total of 23.73 lakh of the company’s shares were traded on the BSE, translating into a transaction of Rs 54.09 crore.
The beta of Inox Wind’s stock is 1.4, which denotes extremely high annual volatility. Technically speaking, the stock’s relative strength index (RSI) is 74.3, indicating that it is trading in the overbought area. The moving averages of five, ten, twenty, thirty, fifty, hundred, 150, and 200 days are all being exceeded by the stock’s current trading price.
This order is related to the provision of equipment for the newest 3 MW wind turbine generators (WTGs) from Inox Wind. Furthermore, Inox Wind will offer multi-year operations and maintenance (O&M) services following commissioning. Tamil Nadu is where the project will be carried out.
“We are pleased to receive a 51MW order from Everrenew, an esteemed customer with whom we aim to build a mutually fruitful partnership going forward,” stated Inox Wind CEO Kailash Tarachandani. We are happy to see that project developers strongly favor our turbines and services, and we will keep contributing as India rapidly approaches its objectives for renewable power.”
Due to outstanding Q1 results, the stock also reached a record high during the prior session. In the June 2024 quarter, the company realized a profit on an annual basis. In comparison to a loss of Rs 65 crore in the same quarter of the previous fiscal year, Inox Wind recorded a profit of Rs 47 crore in Q1. Strong profits with EBITDA and PAT above consensus projections were reported by Axis Securities.
An Indian supplier of complete wind energy solutions is called Inox Wind. The enterprise is involved in the production and commercialization of wind turbine generators (WTGs). In addition, it offers wind farm development services as well as services for common infrastructure facilities, installation, procurement, and commissioning (EPC), and operations and maintenance (O&M) for WTGs.
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[…] This is the reason why the multibagger green energy stock sets a new session high. […]
[…] This is the reason why the multibagger green energy stock sets a new session high. […]
[…] This is the reason why the multibagger green energy stock sets a new session high. […]
[…] This is the reason why the multibagger green energy stock sets a new session high. […]