Inox Wind rises on inking pact to acquire stake in Resco
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Inox Wind is currently trading at Rs. 129.70, up by 1.45 points or 1.13% from its previous closing of Rs. 128.25 on the BSE.
The scrip opened at Rs. 125.75 and has touched a high and low of Rs. 131.00 and Rs. 125.75 respectively. So far 3519 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 160.00 on 30-Jul-2021 and a 52 week low of Rs. 35.00 on 04-Nov-2020.
Last one week high and low of the scrip stood at Rs. 135.00 and Rs. 120.30 respectively. The current market cap of the company is Rs. 2846.10 crore.
The promoters holding in the company stood at 73.39% while Institutions and Non-Institutions held 2.07% and 24.54% respectively.
Inox Wind has entered into a share purchase agreement with its subsidiary, Inox Wind Infrastructure Services (IWISL) to acquire the entire issued and paid up equity share capital of Resco Global Wind Services (Resco), a step down subsidiary company.
Consequent upon the said acquisition, Resco Global Wind Services which was earlier a step down subsidiary shall become the Company's direct wholly owned subsidiary.
Inox Wind offers its clients total wind power solutions including wind resource assessment, acquiring land, developing the entire site infrastructure, building the power evacuation system, supplying the WTGs, erection and commissioning services, long term operations and maintenance services as well as post-commissioning support.
