Inox Wind Soars 6%: Major Update on India's Largest Wind Order Sparks Investor Excitement!

Inox Wind’s stock experienced a notable surge on the Bombay Stock Exchange (BSE) on April 21, climbing over 6% in intraday trading. Investors reacted positively to the company’s announcement regarding a significant wind energy contract. Opening at ₹166.60, the share price quickly rose to ₹172.80, reflecting an increase of 6.21% before stabilizing around ₹169.40 later in the morning.

Major Wind Energy Contract Update

In a recent exchange filing, Inox Wind revealed progress on a 1,500 MW framework agreement with Purvah Green Private Ltd. The company confirmed that the execution of the 990 MW turnkey order is underway at various sites located in Gujarat, Rajasthan, and Madhya Pradesh. This advancement marks a significant step for Inox Wind, reinforcing its position as a leader in India’s renewable energy sector.

Key Highlights:
- Total Agreement: 1,500 MW with Purvah Green Private Ltd.
- Turnkey Order in Progress: 990 MW
- Execution Locations: Gujarat, Rajasthan, Madhya Pradesh
- Commissioning Timeline: Phased approach starting in FY26

Inox Wind’s Remarkable Achievement

The contract awarded by Purvah Green, a subsidiary of CESC Ltd., stands as the largest single wind order granted to any wind Original Equipment Manufacturer (OEM) in India by an independent power producer (IPP). Kailash Tarachandani, the Group CEO of Inox Wind, expressed enthusiasm about the project, stating, "We are proud to execute the entire 990 MW turnkey project for Purvah and are committed to delivering exceptional results."

Stock Performance Insights

Over the past year, Inox Wind’s shares have increased by 18%, bouncing back from a 52-week low of ₹124.35 recorded on June 5 to a 52-week high of ₹262.10 reached on September 23. The stock has also seen a 4% rise this month, following an impressive 8% gain in March.

In summary, Inox Wind’s latest updates and stock performance highlight its pivotal role in advancing India’s wind energy landscape. For further insights into market movements and stock recommendations, stay tuned to our financial news section.