Inox Wind shares rise 3% after Rs 755 crore repeat order from IOC
The Inox Wind stock opened at Rs 71.98 over its previous close of Rs 70.42 on the BSE. It hit a high of Rs 72.28 apiece, up 2.64 per cent from the previous close.
- Sep 3, 2026,
- Updated Sep 3, 2026 11:08 AM IST
Inox Wind Ltd shares rose 3 per cent in Thursday's trade after the maker of wind turbine generator secured a 100 MW turnkey repeat order from Indian Oil Corporation Ltd (IOC), with a contract value of approximately Rs 755 crore. The order is from India's largest oil marketing company and will be executed on a turnkey basis, including post-commissioning operations and maintenance (O&M) services.
The Inox Wind stock opened at Rs 71.98 over its previous close of Rs 70.42 on the BSE. It hit a high of Rs 72.28 apiece, up 2.64 per cent from the previous close. The stock's rise came as the broader energy sector gained, with the Nifty Energy index rising 0.48 per cent in morning trade. The 12-month consensus target price for Inox Wind stands at Rs 110, as per Bloomberg, implying 55 per cent potential upside. JM Financial has an 'Add' rating with a target price of Rs 92, while Motilal Oswal Financial Services sees the stock at Rs 92. Investec has a target of Rs 138, Systematix Rs 109 and Nuvama Rs 120.
In a filing to the stock exchanges, Inox Wind said it would be responsible for the end-to-end execution of the project, including the supply of wind turbine generators, engineering, procurement and construction (EPC), project execution and post-commissioning O&M services.
The repeat order further strengthens Inox Wind's customer portfolio across commercial and industrial (C&I) customers, public sector undertakings (PSUs) and independent power producers (IPPs), the company said.
"This repeat order is a testament to the confidence that leading institutional customers place in our integrated capabilities and execution track record," said Kailash Tarachandani, Group CEO, Renewables business at INOXGFL Group.
Tarachandani said India's renewable energy transition was creating significant opportunities for wind power, with large enterprises and public sector organisations increasingly looking for reliable partners to deliver projects with efficiency and accountability.
Inox Wind shares have fallen 42.82 per cent so far in 2026, compared with a 6.86 per cent decline in peer Suzlon Energy Ltd. The company recently reported a weak June quarter, while analysts said its ability to meet the FY27 revenue growth guidance of 75 per cent year-on-year, given Q1 delivered only 8 per cent of the full-year target, will be closely tracked. New order inflows, particularly third-party orders, and execution ramp-up will also remain key monitorables.
Inox Wind Ltd shares rose 3 per cent in Thursday's trade after the maker of wind turbine generator secured a 100 MW turnkey repeat order from Indian Oil Corporation Ltd (IOC), with a contract value of approximately Rs 755 crore. The order is from India's largest oil marketing company and will be executed on a turnkey basis, including post-commissioning operations and maintenance (O&M) services.
The Inox Wind stock opened at Rs 71.98 over its previous close of Rs 70.42 on the BSE. It hit a high of Rs 72.28 apiece, up 2.64 per cent from the previous close. The stock's rise came as the broader energy sector gained, with the Nifty Energy index rising 0.48 per cent in morning trade. The 12-month consensus target price for Inox Wind stands at Rs 110, as per Bloomberg, implying 55 per cent potential upside. JM Financial has an 'Add' rating with a target price of Rs 92, while Motilal Oswal Financial Services sees the stock at Rs 92. Investec has a target of Rs 138, Systematix Rs 109 and Nuvama Rs 120.
In a filing to the stock exchanges, Inox Wind said it would be responsible for the end-to-end execution of the project, including the supply of wind turbine generators, engineering, procurement and construction (EPC), project execution and post-commissioning O&M services.
The repeat order further strengthens Inox Wind's customer portfolio across commercial and industrial (C&I) customers, public sector undertakings (PSUs) and independent power producers (IPPs), the company said.
"This repeat order is a testament to the confidence that leading institutional customers place in our integrated capabilities and execution track record," said Kailash Tarachandani, Group CEO, Renewables business at INOXGFL Group.
Tarachandani said India's renewable energy transition was creating significant opportunities for wind power, with large enterprises and public sector organisations increasingly looking for reliable partners to deliver projects with efficiency and accountability.
Inox Wind shares have fallen 42.82 per cent so far in 2026, compared with a 6.86 per cent decline in peer Suzlon Energy Ltd. The company recently reported a weak June quarter, while analysts said its ability to meet the FY27 revenue growth guidance of 75 per cent year-on-year, given Q1 delivered only 8 per cent of the full-year target, will be closely tracked. New order inflows, particularly third-party orders, and execution ramp-up will also remain key monitorables.