Shares of Inox Wind Ltd. fell 1.28% after rising more than 2% at market open on Tuesday. The shares had risen as much as 3.08% on Monday before erasing gains to trade lower.
In its fourth quarter performance, the wind energy firm saw its consolidated revenue more than double, reaching Rs 1,248 crore compared to Rs 528 crore in the same period last year. Ebitda climbed to Rs 227 crore from Rs 98.6 crore, despite a slight contraction in the Ebitda margin, which stood at 18.2% versus 18.7%. Notably, profit increased to Rs 187 crore from Rs 46.5 crore.
Inox Wind is a leading player in India's renewable energy sector, specialising in wind energy solutions. The company designs, manufactures, and installs wind turbine generators, providing comprehensive services, including operations and maintenance.
Inox Wind is involved in advancing sustainable energy and reducing carbon footprint through technology and other energy solutions.
Inox Wind Share Price Today
The scrip rose as much as 2.50% to Rs 190 apiece, before falling 1.28% to Rs 183 apiece. It was trading 0.58% lower at Rs 184.19 apiece, as of 10:05 a.m. This compares to a 0.33% decline in the NSE Nifty 50.
The stock has risen 1.73% on a year-to-date basis, and 20.09% in the last 12 months. Total traded volume so far in the day stood at two times its 30-day average. The relative strength index was at 45.77.
Out of eight analysts tracking the company, seven maintain a 'buy' rating and one suggests 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 21.3%.
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