Inox Wind shares gain 2% on winning 279 MW order from C&I player

The project will be executed by June 2025, with the WTGs being installed across Rajasthan and Gujarat.

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Shares of Inox Wind saw a 2.5 percent increase, reaching Rs 463.90 in early trade on December 26. This surge in stock value followed the company’s successful acquisition of a repeat order from a significant Commercial and Industrial (C&I) player.

“…. has bagged an order for 279 MW from a large C&I player. The order is for company’s latest 3 MW Wind Turbine Generators (WTGs), and the scope comprises of a mix of equipment supply with limited scope EPC for 180 MW and end-to-end turnkey execution for 99 MW,” the company said in a press release.

Additionally, Inox Wind will also provide post commissioning multi-year operations & maintenance (O&M) services.

The project will be executed by June 2025, with the WTGs being installed across Rajasthan and Gujarat.

This repeat order is from a large C&I customer for which Inox Wind has already executed ~ 325 MW of orders till date.

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On December 4, the company announced the completion of infusion of  Rs 800 crore (before taxes and fees) into the company by its promoter Inox Wind Energy Limited (IWEL).

The share touched a 52-week high of Rs 475.00 and a 52-week low of Rs 89.60 on 22 December, 2023 and 06 February, 2023, respectively.

Currently, the stock is trading 2.34 percent below its 52-week high and 417.75 percent above its 52-week low.

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