Inox Wind shares jump 36% in 2 days. Here’s why
Inox Wind rallied 35% in two days, making a new all-time high of Rs 237 in Tuesday’s session on BSE after the company on Friday announced its Q1 results wherein it turned profitable on a YoY basis. The company also announced a 51 MW order win from Everrenew.
Order win
Inox Wind announced that it bagged an equipment supply order from Everrenew for its 3 MW class WTGs, which has to be executed in Tamil Nadu.
As of now, no other details regarding the order have been disclosed by the company.
“We are pleased to receive a 51MW order from Everrenew, an esteemed customer with whom we aim to build a mutually fruitful partnership going ahead. We are glad to witness the strong preference for our turbines and services by project developers and we continue to make our contribution as India surges ahead to achieve its renewable capacity targets,” said Kailash Tarachandani, CEO of Inox Wind.
“At Everrenew, we are committed to address the ever-growing power demands of our customers through our sustainable renewable power solutions. Our collaboration with Inox Wind will help us deliver on our project commitments as we aim to drive the adoption of renewable energy in the C&I segment and assist companies in their energy transition journey over the coming years,” added R. Venkatesh, CEO of Everrenew Energy.
Also read: Ola Electric shares skyrocket 71% in 3 days, market cap crosses Rs 51,000 cr mark
Q1 result
The company on Friday posted a profit of Rs 50 crore in the June quarter against a loss of Rs 65 crore in the
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