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Business News/ Markets / Stock Markets/  Bonus share: Multibagger Inox Wind share price rises 5% as Board of Directors propose issuance of 3:1 bonus shares
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Bonus share: Multibagger Inox Wind share price rises 5% as Board of Directors propose issuance of 3:1 bonus shares

Bonus Share: Multibagger Inox Wind share price rose more than 5% on Thursday during intraday trades as company's Board of Directors proposed issuance of bonus shares of 3:1. Propelled by the news Inox Wind Share prices also scaled fresh all time highs of ₹658.50 on the BSE & ₹658.40 on NSE

Multibagger Inox Wind share price rises more than 5% on Thursday as company's Board of Directors proposed bonus shares issue of 3:1Premium
Multibagger Inox Wind share price rises more than 5% on Thursday as company's Board of Directors proposed bonus shares issue of 3:1

Bonus Share: Multibagger Inox Wind share price gained more than 5% on Thursday as company's Board of Directors proposed issuance of bonus shares of 3:1.

Propelled by the Bonus share news Inox Wind Share prices also scaled fresh all time highs of 658.50 on the BSE and   658.40 on the NSE, on Thursday.

Inox Wind in its release on the exchanges said that “Board of Directors of the company at its meeting held on 25th April 2024 has proposed the issuance of bonus shares of 3:1 (three bonus equity shares for every one existing equity share) out of the accumulated reserves of the company"

 The shareholders whose names appear in the Register of Members as of the "Record Date" will be issued the Bonus shares.

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Inox Wind in its release on April 22, 2024 already had informed the exchanges that a meeting of the Board of Directors of the Company is scheduled on 25/04/2024 ,inter alia, to consider and approve issuance of bonus equity shares.

The Inox Wind share prices have been rising ever since, During the past 5 trading sessions Inox Wind share price has risen almost 17% in anticipation of bonus share issue. 

The  Inox Wind share price has given multibagger returns to investors during past one year having risen slightly more than 500%. 

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For Inox Wind share price the triggers have remained more than jut Bonus share. The order flow remains strong driving Inox Wind share price. Inox Wind recently had announced a sizable order, a a repeat order for 210 mega watt (MW) of its 3 MW wind turbine generation systems (WTGs) from Hero Future Energies.

Strong Order books and healthy balance sheets also add to outlook for Inox wind and Inox Wind share prices , feel analyst.

ICICI Securities report a few days back had as per their estimates had pegged Earnings per share to grow  2.5 time in FY25 over FY24 and another 40% on FY26

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

 

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ABOUT THE AUTHOR
Ujjval Jauhari
Ujjval Jauhari is a deputy editor at Mint, with over a decade of experience in newspapers and digital news platforms. He is skilled in storytelling, reporting, analysing and writing about stocks, investment ideas, markets, corporates and more. He is based in New Delhi.
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Published: 25 Apr 2024, 02:12 PM IST
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