Inox Wind's stock price rises after bonus share proposal

23 Apr 2024 , 03:54 PM

Inox Wind's share price surged over 5% in morning trade on April 23 following the company's announcement of a proposal to issue bonus shares. At the time of writing, the shares of Inox Wind were trading at ₹603 which is a 1.91% increase from the previous close.

The company's board will convene on April 25 to discuss and approve the proposal for issuing bonus equity shares, as stated in an exchange filing.

On April 19, Inox Wind secured an order for 210 MW of wind turbine generators (WTGs) from Hero Future Energies (HFE), including post-commissioning multi-year operations and maintenance services.

These WTGs will be supplied to HFE starting from Q3 FY25 and will be installed in South India. In the past 52 weeks, Inox Wind shares hit a high of ₹648 on February 27, 2024, and a low of ₹99.53 on April 24, 2023. 

Inox Wind Limited, a subsidiary of the INOX Group, is an Indian wind energy service provider headquartered in Noida, India. It manufactures Wind Turbine Generators (WTGs) and offers services ranging from wind resource assessment to long-term operations and maintenance of wind power projects. The company is publicly traded on the National Stock Exchange of India and the Bombay Stock Exchange.

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