Mumbai, May 19 — Inox Green Energy Services Ltd saw a sharp rise in its share price on Monday after the company announced that it has signed agreements to provide operations and maintenance (O&M) services for 285 megawatt-peak (MWp) of solar projects. The stock surged 3.88% to trade at ₹154.05 on the Bombay Stock Exchange (BSE), up ₹5.75 from the previous close of ₹148.30.
The stock opened at ₹148.90 and hit an intraday high of ₹155.00. The counter witnessed a total trade volume of 13,433 shares. The company currently holds a market capitalization of ₹5,442.86 crore.
O&M Agreement Marks Expansion in Solar Segment
The newly inked agreement sees Inox Green providing O&M services to two of India’s leading renewable energy developers, with solar projects spread across multiple sites. This deal significantly strengthens the company’s solar O&M footprint, taking its total solar O&M portfolio to approximately 1 gigawatt (GW) — a remarkable expansion within just a month of entering the solar segment.
This strategic addition underscores Inox Green’s efforts to diversify beyond its core wind energy operations and position itself as a comprehensive renewable O&M service provider.
From Wind to Solar: A Strategic Shift
Inox Green Energy Services has historically specialized in long-term O&M services for wind farm projects. The company is known for maintaining wind turbine generators (WTGs) and associated infrastructure that enables power evacuation from wind farms.
With this solar expansion, the company is actively broadening its renewable energy services portfolio, aligning with India’s growing demand for integrated green energy solutions. The move is expected to contribute significantly to the company’s long-term revenue and sustainability goals.
Strong Shareholding and Market Performance
The company has a strong promoter holding of 55.93%, while institutions and non-institutional investors hold 12.64% and 31.43% respectively. Inox Green’s stock has experienced notable volatility in recent months, hitting a 52-week high of ₹224.65 on September 13, 2024, and a 52-week low of ₹95.65 on April 7, 2025.
In the last week alone, the stock has ranged between ₹136.90 and ₹155.00, indicating renewed investor interest following strategic business announcements.
As India aggressively scales up its renewable energy capacity, Inox Green’s strategic push into the solar O&M space is being closely watched by market analysts and investors alike.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
