Inox Wind surges on entering into binding framework agreement with CESC
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Inox Wind is currently trading at Rs. 558.05, up by 15.90 points or 2.93% from its previous closing of Rs. 542.15 on the BSE.
The scrip opened at Rs. 572.55 and has touched a high and low of Rs. 579.00 and Rs. 553.30 respectively. So far 37946 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 579.00 on 08-Feb-2024 and a 52 week low of Rs. 90.50 on 14-Feb-2023.
Last one week high and low of the scrip stood at Rs. 579.00 and Rs. 479.15 respectively. The current market cap of the company is Rs. 17671.30 crore.
The promoters holding in the company stood at 52.87%, while Institutions and Non-Institutions held 19.37% and 27.76% respectively.
Inox Wind (IWL) has entered into a binding framework agreement with CESC, one of the largest power utilities in India, for the installation / supplies of 1,500 MW of wind capacity over the next 3-4 years. The deal is for IWL’s latest DF/3000/145 Wind Turbine Generators (WTGs), each having a minimum capacity of 3.3 MW.
The scope of the agreement comprises of a mix of end-to-end turnkey execution for 1,000 MW and equipment supply with limited scope EPC for 500 MW. Additionally, IWL’s subsidiary, Inox Green Energy Services (IGESL) will provide post commissioning multi-year operations & maintenance (O&M) services. This is by far the single largest order signed for a wind project in India by any Wind OEM.
Inox Wind is India’s leading wind energy solutions provider servicing IPPs, Utilities, PSUs & Corporate Investors.
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