Inox Wind share price jumps over 6%; rises 16% in five sessions. Experts see RBI MPC connect
- Inox Wind shares have gained nearly 16% in the past five sessions. Meanwhile, shares of Inox Wind Energy also spiked over 4% in Tuesday’s trade.
Inox Wind share price jumped over 6% on Tuesday, extending the rally from the previous session, led by strong buying momentum. Inox Wind shares rallied as much as 6.44% to ₹213.80 apiece on the BSE.
Inox Wind shares have gained nearly 16% in the past five sessions. Meanwhile, shares of Inox Wind Energy also spiked over 4% in Tuesday’s trade.
The rally in Inox Wind shares comes after its subsidiary Inox Green Energy Services announced the disinvestment of its entire share capital of a wholly owned subsidiary Aliento Wind Energy Private Limited (AWEPL).
In a BSE filing on November 30, Inox Green Energy Services said that it entered into a share purchase agreement to sell the entire issued and paid-up equity share capital of ₹1,00,000, comprising of 1,00,000 equity shares, of AWEPL to Nani Virani Wind Energy Private Limited.
RBI MPC trigger
Analysts also attributed the rally in Inox Wind shares to the broader gains in green energy shares amid buzz over estimated green lending guidelines in the upcoming Reserve Bank of India’s (RBI) Monetary Policy meeting.
“The RBI and other regulators can create green lending guidelines. They should work towards providing incentives for solar investments. These might include preferential capital treatment for solar projects, lower-rate credit lines, and new risk-sharing tools. Tax incentives can boost the appeal of solar investments. Such incentives may include accelerated depreciation and income tax exemptions. Standardising power purchase agreements and simplifying regulatory processes can substantially enhance investor confidence,” said Seema Srivastava, Senior Equity Research Analyst at SMC Global Securities.
The meeting of the RBI’s Monetary Policy Committee (MPC), chaired by Governor Shaktikanta Das, will begin on December 4 and will conclude on December 6. The RBI policy decision will be announced on Friday, December 6, at 10 AM. RBI Governor Shaktikanta Das-led MPC is expected to keep the benchmark repo rate unchanged at 6.5%.
Inox Wind Stock Price Trend
Inox Wind share price has fallen over 7% in one month, but has rallied more than 65% year-to-date (YTD). In the past one year, Inox Wind shares have given multibagger returns of more than 186%, while the stock price has spiked over 465% in three years.
At 1:10 PM, Inox Wind shares were trading 2.61% higher at ₹206.10 apiece on the BSE.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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