Inox Wind advances after order win from SJVN

Inox Wind gained 2.21% to Rs 192.25 at 11:00 IST on BSE after the company bagged an order for a 50 megawatts wind power project to be deployed in Gujarat from SJVN.

The announcement was made during market hours today, 6 December 2016.

Shares of SJVN gained 0.45% to Rs 33.40.

Meanwhile, the BSE Sensex was up 103.46 points, or 0.39%, to 26452.81.

On the BSE, 18,235 shares were traded in Inox Wind's counter so far, compared with average daily volume of 75,044 shares in the past one quarter. The stock had hit a high of Rs 194.45 and a low of Rs 187.25 so far during the day.

 

The mid-cap company has equity capital of Rs 221.92 crore. Face value per share is Rs 10.

Inox Wind bagged an order for a 50 megawatts wind power project to be deployed in Gujarat from SJVN, category-I Mini Ratna, central public sector enterprise and hydroelectric power major. The project is scheduled to be commissioned by November 2017 and will be executed on turnkey basis.

On a consolidated basis, net profit of Inox Wind declined 39.9% to Rs 56.42 crore on 21.3% decline in net sales to Rs 797.67 crore in Q2 September 2016 over Q2 September 2015.

Inox Wind is a fully integrated player in the wind energy market with three manufacturing plants at Gujarat, Himachal Pradesh and Madhya Pradesh.

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