Why Did Inox Wind Shares Tumble Over 6% from Day’s High

Shares of Inox Wind Ltd dropped over 6.5% on Monday, ending the day at Rs 164.99 on the National Stock Exchange (NSE) . This is despite hitting an intra-day high of Rs 177.3 on the same day.

The decline came despite a positive long-term outlook for the renewable energy firm and follows a period of strong gains in recent months.

What brought down the stock?

Inox Wind’s stock fell sharply, mainly due to profit booking, according to media reports. After a strong rally and solid Q4 results, some investors chose to lock in their gains. Some reports further noted that mutual funds sold around 2.65 lakh shares of Inox Wind Energy in June, which were valued at Rs 307.5 crore. 

Key developments ahead

Despite the stock’s decline, Inox Wind has important developments coming up. On July 17, the company’s board will meet to discuss fundraising plans, which may include issuing new shares or borrowing funds to fuel its growth.

Inox Wind is also close to completing its merger with its parent company, Inox Wind Energy Ltd. The National Company Law Tribunal (NCLT) has already approved the deal. The merger aims to streamline the group’s structure and wipe out Rs 2,050 crore in internal debt, which should strengthen the company’s financial position and boost investor confidence, according to the company.

Also Read: Inox Wind Secures 50 MW wind project deal with NLC India for Gujarat site | Republic World

Strong financial performance

In its recent Q4 results, Inox Wind posted a sharp rise in both profit and revenue. The company’s net profit surged to Rs 186.87 crore—marking a year-on-year increase of 302%. Operational revenue also saw strong growth, more than doubling to Rs 1,274.82 crore, up 142% from the same period last year.

About Inox Wind

Inox Wind Limited, a part of the Inox Group, is one of India’s key players in the wind energy sector. The company manufactures wind turbine generators and offers a range of services, including engineering, procurement and commissioning (EPC), operations and maintenance (O&M), and wind farm development. Known for its complete turnkey solutions, Inox Wind has built a strong presence in the renewable energy space. It currently holds an order book exceeding 3.2 gigawatts, underlining its expanding role in supporting India’s clean energy goals. 

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