Inox results take the wind out of Street

Inox Wind's stock lost 17.4% on Monday to close at Rs 166.80

Against the backdrop of the government’s enhanced focus on renewable energy, the solar and wind energy segments have looked promising in the past couple of years. But, Inox Wind’s weak March 2017 quarter performance, increased risk of order cancellations and no clear visibility on earnings for FY18 have shaken the Street’s confidence, especially towards wind energy.

Inox Wind’s stock lost 17.4 per cent on Monday to close at Rs 166.80.

The transition of the wind power industry from the feed-in-tariff (FIT) regime, where contracts are on standard tariffs to promote industry, to the auction route (competitive bidding), both in solar and wind