Inox Wind stock rises 7% on repayment of Rs 411-crore debt
Inox Wind shares rose 6.88% to Rs 131.20 against the previous close of Rs 122.75 on BSE. Inox Wind stock has been rising for the last two sessions
- Nov 30, 2022,
- Updated Nov 30, 2022 10:05 AM IST
Shares of Inox Wind gained 7% in early trade today after the company and its arm Inox Green Energy Services repaid debts of Rs 411 crore. Inox Wind shares rose 6.88% to Rs 131.20 against the previous close of Rs 122.75 on BSE. Inox Wind stock has been rising for the last two sessions.
The small cap share trades higher than 5 day, 100 day and 200 day moving averages but lower than 20 day and 50 day moving averages. The stock has gained 6.46% in one year and risen 11% since the beginning of this year. Market cap of the firm stood at Rs 3,553 crore.
Total 0.35 lakh shares of the firm changed hands amounting to a turnover of Rs 45.33 lakh on BSE.
Inox Wind Ltd and its subsidiary Inox Green Energy Services Ltd, as part of the strategic initiative to deleverage their respective balance sheets, have recently paid Rs 250 crore and Rs 161 crore (aggregating to Rs. 411 crore) towards reducing their debt, an exchange filing said.
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Consequently, the corporate guarantees given by Gujarat Fluorochemicals Ltd have also got reduced to that extent.
Both the companies are in the process of further reducing their debt in due course, it added.
The firm reported a loss of Rs 129.27 crore in Q1 against a loss of Rs 52.32 crore in the June quarter of the previous fiscal. However, sales rose 24.36% to Rs 210.62 crore in the June quarter against Rs 169.36 crore in Q1 of the previous fiscal.
On a quarter-on-quarter basis, loss narrowed from Rs 255.64 crore in the March quarter of the previous fiscal. Sales grew 53.29% from Rs 137.40 in the March quarter.
Inox Wind is an India-based integrated wind energy solutions provider. The company is engaged in the business of manufacture and sale of wind turbine generators (WTGs). It also provides erection, procurement and commissioning (EPC), operations and maintenance (O&M) and common infrastructure facilities services for WTGs and wind farm development services.
Shares of Inox Wind gained 7% in early trade today after the company and its arm Inox Green Energy Services repaid debts of Rs 411 crore. Inox Wind shares rose 6.88% to Rs 131.20 against the previous close of Rs 122.75 on BSE. Inox Wind stock has been rising for the last two sessions.
The small cap share trades higher than 5 day, 100 day and 200 day moving averages but lower than 20 day and 50 day moving averages. The stock has gained 6.46% in one year and risen 11% since the beginning of this year. Market cap of the firm stood at Rs 3,553 crore.
Total 0.35 lakh shares of the firm changed hands amounting to a turnover of Rs 45.33 lakh on BSE.
Inox Wind Ltd and its subsidiary Inox Green Energy Services Ltd, as part of the strategic initiative to deleverage their respective balance sheets, have recently paid Rs 250 crore and Rs 161 crore (aggregating to Rs. 411 crore) towards reducing their debt, an exchange filing said.
Also Read: Share Market News Live: Sensex, Nifty extend gains for 7th straight day; auto, metal stocks shine
Consequently, the corporate guarantees given by Gujarat Fluorochemicals Ltd have also got reduced to that extent.
Both the companies are in the process of further reducing their debt in due course, it added.
The firm reported a loss of Rs 129.27 crore in Q1 against a loss of Rs 52.32 crore in the June quarter of the previous fiscal. However, sales rose 24.36% to Rs 210.62 crore in the June quarter against Rs 169.36 crore in Q1 of the previous fiscal.
On a quarter-on-quarter basis, loss narrowed from Rs 255.64 crore in the March quarter of the previous fiscal. Sales grew 53.29% from Rs 137.40 in the March quarter.
Inox Wind is an India-based integrated wind energy solutions provider. The company is engaged in the business of manufacture and sale of wind turbine generators (WTGs). It also provides erection, procurement and commissioning (EPC), operations and maintenance (O&M) and common infrastructure facilities services for WTGs and wind farm development services.