Inox Wind gained 1.81% to Rs 366.10 at 11:40 IST on BSE after the company announced commissioning of its 800 MW blade facility at its integrated manufacturing unit at Barwani district in the state of Madhya Pradesh.
The company made announcement during market hours today, 16 November 2015.
Meanwhile, the BSE Sensex was up 15.08 points, or 0.09%, to 25,633.49.
On BSE, so far 7,458 shares were traded in the counter, compared with an average volume of 28,106 shares in the past one quarter.
The stock hit a high of Rs 369.90 and a low of Rs 361.60 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 13 November 2015, falling 6.02% compared with 4.6% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, dropping 3.75% as against Sensex's 7.04% decline.
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 that the unit will have an annual production capacity of 400 rotor blade sets and eventually also have an annual manufacturing capacity of 400 nacelles and hubs, 300 towers and will double Inox Wind's production capacity to 1,600 megawatts (MW). The manufacturing plant, which will be amongst the largest in Asia and billed to be the largest in India, will drive investments and economic growth in Madhya Pradesh and provide direct and indirect employment to 5,000 people in the state.
The new manufacturing facility will enhance production of the company's pioneering 100 meter rotor dia product and enable manufacturing of its game-changing 113 meter rotor dia product. The facility will also aid in efficient transportation of equipment to several wind rich sites in the country.
On a consolidated basis, Inox Wind's net profit rose 63.5% to Rs 89.13 crore on 86% rise in net sales to Rs 1005.85 crore in Q2 September 2015 over Q2 September 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, at Una (Himachal Pradesh) for hubs & nacelles and an integrated manufacturing facility at Barwani (Madhya Pradesh) for nacelles, hubs, blades and towers.
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