Inox Wind shares up 2% on winning 50-MW wind project from NLC India

The share touched a 52-week high of Rs 540.00 and a 52-week low of Rs 89.60 on 03 January, 2024 and 06 February, 2023, respectively.

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Shares of Inox Wind rose 2 percent in the opening trade on January 9 after the company was awarded a wind power project by NLC India.

At 9:27am, Inox Wind was quoting Rs 504.70, up Rs 9.80, or 1.98 percent, on the BSE.

“The company 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,” it said.

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 and maintenance (O&M) services for over 10 years after commissioning.

The project will be executed at the mega Dayapar site in the Kutch district of Gujarat.

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In December, the company bagged an order for a 279-MW project from a large commercial and industrial player, comprising a mix of equipment supply with limited scope EPC (engineering procurement construction) for 180 MW and end-to-end turnkey execution for 99 MW.

The share touched a 52-week high of Rs 540.00 and a 52-week low of Rs 89.60 on January 3, 2024 and February 6, 2023, respectively. Currently, the stock is trading 6.54 percent below its 52-week high and 463.28 percent above its 52-week low.