Inox Wind Energy soars on selling stake in Inox Wind
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Inox Wind Energy is currently trading at Rs. 2942.05, up by 63.50 points or 2.21% from its previous closing of Rs. 2878.55 on the BSE.
The scrip opened at Rs. 2895.00 and has touched a high and low of Rs. 2993.90 and Rs. 2895.00 respectively. So far 408 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 3050.00 on 09-Aug-2023 and a 52 week low of Rs. 824.00 on 23-Dec-2022.
Last one week high and low of the scrip stood at Rs. 2993.90 and Rs. 2365.85 respectively. The current market cap of the company is Rs. 3569.15 crore.
The promoters holding in the company stood at 69.51%, while Institutions and Non-Institutions held 6.85% and 23.64% respectively.
Inox Wind Energy has sold an aggregate of 3,83,62,000 equity shares of its subsidiary -- Inox Wind (IWL), through block deals on the stock exchange viz. BSE, thereby raising around Rs 800 crore.
Post the aforesaid transaction, the Company's shareholding in its subsidiary, IWL decreased from 50.20% to 38.43%. Consequently, IWL ceased to be a subsidiary of the Company with effect from October 31, 2023.
Inox Wind Energy is engage in the business of generation and sale of wind energy and providing related services and to make investment in the shares, debentures and other securities of Renewable Energy Business.
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