Active Stocks
Thu May 30 2024 10:43:49
  1. Tata Steel share price
  2. 167.95 -3.59%
  1. NTPC share price
  2. 362.90 -0.47%
  1. State Bank Of India share price
  2. 827.15 0.51%
  1. Tata Motors share price
  2. 940.65 -0.32%
  1. Wipro share price
  2. 445.80 -1.13%
Business News/ Markets / Stock Markets/  Multibagger Inox Wind share price rises 5%: Board to consider issuing bonus shares on Thursday, 25th April, 2024
BackBack

Multibagger Inox Wind share price rises 5%: Board to consider issuing bonus shares on Thursday, 25th April, 2024

Stock Market Today: Multibagger Inox Wind share prices rose more than 5% on Tuesday as its Board meeting on Thursday, 25th April, 2024 is to consider issuing bonus shares

Inox Wind share price gained more than 5% On Tuesday as its Board will consider issuing bonus shares in its meeting in 25th AprilPremium
Inox Wind share price gained more than 5% On Tuesday as its Board will consider issuing bonus shares in its meeting in 25th April

Multibagger Inox Wind Share prices rose more than 5% on Tuesday. In its release on Monday, post market hours, Inox Wind said that a meeting of the Board of Directors of the Company is scheduled to be held on Thursday, 25th April, 2024, inter-alia, to consider and approve the proposal for issuance of Bonus Equity Shares to the shareholders of the company.

Inox Wind also said that the trading Window for dealing in securities of the company is already closed for Designated Persons and their immediate relatives w.e.f. Monday, 1st April, 2024 till completion of 48 hours after the Audited Financial Results for the quarter and financial year ending on 31" March, 2024 are submitted to the Stock Exchanges.

Inox Wind share price has given Multibbager returns to investors having gained almost 500% in the last one year. 

Also Read- Hatsun Agro share price surges 15% after Q4 result

The Inox Wind share price also has gained more than  10% in last five trading sessions and its trading near all time highs.

Inox Wind recently had announced a large order win. Inox Wind secured a repeat order for 210 mega watt (MW) for its 3 MW wind Turbine Generation Systems (WTGs) from Hero Future Energies.

As per Inox Wind release on 19th April, 2024, the order is for Inox Wind's  3 MW Wind Turbine Generators (WTGs), and the scope also includes equipment supply and a few add-on services. In addition, Inox Wind will offer multi-year operations and maintenance (O&M) services following commissioning. 

The WTGs will be deployed in South India and supplied to Hero Future Energies starting in Q3 of FY25.

Also Read- Reliance share price trades flat after Q4 result; should you buy, sell or hold? Here's what top brokerages say

As per Kailash Tarachandani, CEO of Inox Wind statement, this order supports their confidence on 3MW WTGs being among the most efficient turbines in their class. This order's addition serves to underline Inox Wind's growth outlook even further.

Analysts at ICICI Securities in their recent report had said that Inox Wind has a deleveraged balance sheet and significantly has enhanced its order books in recent quarters. They had upgraded Inox Wind to BUY with a target price of 675 indicating some more upside for the stock trading at 606 levels

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 taking any investment decisions

 

You are on Mint! India's #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 23 Apr 2024, 10:12 AM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started