Inox Wind flutters

Inox Wind is attracting some attention today morning. The stock, which had closed yesterday at Rs.68.05, opened today at its intraday high of Rs.71 and is currently trading at Rs.69 levels. Its 52-week high is at Rs.75 and 10% UC of the day at Rs.74.85.

The company today morning announced that it has received new orders for the supply and installation of wind turbine generators of 62 MW from IPPs and retail customers spread across various industries for third party sales and captive consumption.

The projects are to be executed on a turnkey basis across locations in Gujarat and Karnataka.

The contracts include supply and commissioning of 2 MW DFIG 113 meters rotor diameter Wind Turbine Generators (WTGs) as well as providing comprehensive operations and maintenance services for the life time of the project.

The orders are expected to be commissioned by September 2021.

The company which enjoys one of the largest order books in the industry has further strengthened its order book with the fresh orders.

The company had ended Q3FY21 with a 16% (YoY) rise in consolidated total income though its net loss more than doubled from 27 crore to Rs.52 crore.