Inox Wind News Today

Dipan Mehta advises caution and light trading ahead of the upcoming election dates. He emphasizes the importance of being in cash and watching the election results closely for investment decisions.

The raised funds will be used to reduce Inox Wind's debt and increase its working capital, thereby strengthening its balance sheet.

Sensex Today | Stock Market LIVE Updates: Power Grid Corp, Hindalco, Nestle, Eicher Motors and Sun Pharma are among the top gainers on the Nifty, while losers are HDFC Life, SBI Life Insurance, UltraTech Cement, Axis Bank and ICICI Bank.

Investec brokerage firm upheld its buy recommendation for Hindalco, while Nuvama initiated coverage on Inox Wind and Suzlon Energy with buy ratings, respectively. Goldman Sachs has given LIC a neutral rating following its Q4 results.

Nuvama, a domestic brokerage, initiated coverage on Inox Wind and Suzlon Energy with optimistic outlooks. It assigned a buy rating and a target price of Rs 195 for Inox Wind, citing its position as one of the two key players in Indias WTG and turnkey EPC market. Meanwhile, Suzlon Energy received a buy rating with a target price of Rs 53, backed by its technological edge, high-margin services, and strong balance sheet.

It is a significant step towards completely deleveraging external debt in Inox Wind Ltd, according to a regulatory filing.

Inox Wind share price: The scrip started tumbling after it was reported that Inox Wind's promoter entity Inox Wind Energy Ltd sold up to 5 per cent stake in the company through a block deal. The transaction was likely executed at a floor price of Rs 151 apiece.

On a sequential basis, the PAT was higher by 5.7%. The consolidated revenue from operations stood at Rs 3,104 crore in the reported quarter. It was Rs 2,079 crore in the year-ago period. The government-owned shipbuilding company declared a final dividend of Rs 12.11 per share for the year ended March 31.

Following the block deal, Inox Wind Energys stake in Inox Wind will come down to 33.43 percent.

Inox Wind stock crashed 9.57% to Rs 148.35 in early deals today against the previous close of Rs 164.05 on BSE. Market cap of Inox Wind slipped to Rs 19,459 crore.