Inox Winds trades weak despite company bagging repeat orders

Last Updated: Thu, Oct 13, 2016 14:38 hrs
Inox Wind

Inox Winds Limited has announced that it has bagged repeat orders from Malpani Group for 40 MW wind power projects in Gujarat.

The two orders will be executed on turnkey basis and are scheduled to be commissioned by March 2017, said Inox Winds in its filing to the stock exchanges. It added that the orders involved supply and installation of 20 units of Inox Wind's latest offering, the 113 meter rotor dia Wind Turbine Generator.

Earlier this month, Inox Winds announced orders wins to the tune over Rs 2000 crore for the supply and installation of wind turbine generators of 350 megawatt (MW) from several repeat customers.

The company said then that 'the repeat orders from some of the nation's leading independent power producers and corporates further cement Inox Wind's leadership position in the Indian wind market'. The projects will be executed on turnkey basis across locations in Gujarat, Andhra Pradesh, and Karnataka.

Shares of Inox Winds Limited are down more than 3% at Rs 218 at present, after having opened at Rs 227, up nearly 1% from previous closing price. The stock had hit a low of Rs 161 in early September this year. It touched a 52-week high of Rs 411.55 on 26 October 2015.

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