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INOX Wind shines on signing deal for sale of 50 MW wind power project in Gujarat

INOX Wind is currently trading at Rs. 32.75, up by 1.10 points or 3.48% from its previous closing of Rs. 31.65 on the BSE.

The scrip opened at Rs. 33.55 and has touched a high and low of Rs. 33.55 and Rs. 32.75 respectively. So far 1400 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 99.50 on 16-Oct-2018 and a 52 week low of Rs. 30.80 on 07-Oct-2019.

Last one week high and low of the scrip stood at Rs. 33.55 and Rs. 31.55 respectively. The current market cap of the company is Rs. 702.37 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 7.73% and 17.27% respectively.

INOX Wind has closed a deal for sale of a 50 MW wind power project at Dayapar, Kutch in the state of Gujarat in which Adani will be the strategic investor. This project is part of the capacity won under SECI bids for wind power projects connected on the central grid. These 2 MW Wind Turbines have one of the highest swept areas that make it ideally suited to maximize returns in low wind areas.

The company, apart from the above, has already commissioned 166 MW of wind projects for Adani. This new deal has been signed by Adani reposing their confidence in the company.

INOX Wind offers its clients total wind power solutions including wind resource assessment, acquiring land, developing the entire site infrastructure, building the power evacuation system, supplying the WTGs, erection and commissioning services, long term operations and maintenance services as well as post-commissioning support.