₹939 crore order impact? INOX India share price jumps over 5% despite muted trends in the Indian stock market
INOX India saw a 5% rise in its share price on July 8 after announcing orders totaling ₹939 crore since May. The orders covered Industrial Gas, LNG, and Cryo-scientific Solutions, further establishing the company in the cryogenic systems market.
INOX India share price surged over 5% on Wednesday, 8 July, after the company announced that it had secured mega orders worth ₹939 crore across its key business segments since 21 May, boosting investor sentiment.
In an exchange filing, the company said the new orders span its Industrial Gas, Cryo-scientific Solutions, LNG and Beverage Kegs businesses. Of the total order inflows, ₹871 crore came from the Industrial Gas segment, ₹44 crore from LNG, ₹16 crore from Cryo-scientific Solutions, and ₹8 crore from Beverage Kegs.
INOX India said the latest order wins reinforce its position as a trusted partner for advanced cryogenic systems among leading global and Indian customers.
The company said the order inflow was led by a 'mega' order in the Industrial Gas business from the space exploration industry, along with multiple 'minor' orders for vaporisers and storage tanks.
In the LNG segment, INOX India secured several orders for storage tanks, dispensers, semi-trailers and LNG fuelling station equipment. It also received a minor order from ITER, the international nuclear fusion project.
Additionally, the company bagged multiple orders for disposable cylinders, liquid cylinders, transport tanks and beverage kegs, according to the exchange filing.
The company classifies its orders based on value, with 'Minor' orders ranging from ₹10 crore to ₹30 crore, 'Large' orders between ₹30 crore and ₹60 crore, 'Significant' orders valued at ₹60 crore to ₹100 crore, 'Major' orders in the ₹100 crore to ₹150 crore range, and 'Mega' orders comprising contracts worth more than ₹150 crore.
Commenting on the order wins, Deepak Acharya, Chief Executive Officer, INOX India, said the contracts reinforce the company's position as a trusted global partner for mission-critical cryogenic solutions.
"We are witnessing strong momentum in the adoption of cryogenic technologies for increasingly sophisticated applications, particularly in the space sector. The growing confidence of global customers in our capabilities encourages us to continue raising the bar in engineering excellence, innovation and execution. We remain committed to delivering world-class cryogenic solutions that support critical industries and our customers' evolving requirements worldwide," he said.
INOX India share price today
INOX India share price today opened at ₹1,800 apiece on the BSE, the stock touched an intraday high of ₹1,906, and an intraday low of ₹1,790.
According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, the stock appears to have resumed its primary uptrend after a mild profit-booking from its recent high of ₹2,099.
"On the daily chart, the stock is forming a bullish reversal candlestick pattern near the 20-day exponential moving average (20-DEMA) and a key Fibonacci retracement level. The formation is accompanied by strong trading volumes and indicates the creation of a higher bottom, which is a positive technical signal," Bhosale said.
He expects the stock to rebound towards the ₹2,100 level in the near term, while ₹1,750 is likely to act as a crucial support zone on the downside.
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