Inox Wind rose 2.42% to Rs 382.35 at 15:13 IST on BSE, extending yesterday's 1.68% rise triggered by the company winning a 50 megawatts repeat order from Tata Power Renewable Energy.
The announcement was made during trading hours yesterday, 12 October 2015. Shares of Inox Wind rose 1.68% to Rs 373.30 yesterday, 12 October 2015. The stock has risen 4.14% in two trading sessions from Rs 367.15 on 9 October 2015.
Meanwhile, the BSE Sensex was down 48.16 points, or 0.18%, to 26,855.95.
On BSE, so far 20,000 shares were traded in the counter, compared with an average volume of 30,665 shares in the past one quarter.
The stock hit a high of Rs 384 and a low of Rs 372.30 so far during the day. The stock hit a record high of Rs 494.70 on 17 April 2015. The stock hit a record low of Rs 315 on 25 August 2015.
The stock had underperformed the market over the past one month till 12 October 2015, falling 0.77% compared with 5.05% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 17.30% as against Sensex's 2.74% decline.
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The mid-cap wind energy solutions provider has an equity capital of Rs 221.92 crore. Face value per share is Rs 10.
Inox Wind said it bagged an order for a 50 megawatts (MW) wind power project at Lahori, in the state of Madhya Pradesh from Tata Power Renewable Energy (TPREL). The order is TPREL's third project with Inox Wind after two previous orders of 172 MW. TPREL is a 100% subsidiary of Tata Power.
As part of the turnkey order, Inox Wind will provide TPREL with end to end solutions from development and construction to commissioning and providing long term operations and maintenance services.
On a consolidated basis, Inox Wind's net profit rose 115.08% to Rs 50.50 crore on 109.08% rise in net sales to Rs 633.77 crore in Q1 June 2015 over Q1 June 2014.
Inox Wind is a fully integrated player in the wind energy market with state-of-the-art manufacturing plants near Ahmedabad (Gujarat) for blades & tubular towers and at Una (Himachal Pradesh) for hubs & nacelles.
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