Inox Green Energy inks pacts for 285 MWp solar projects; stock jumps 6%

Inox Green Energy Services Ltd informed bourses on Monday that it signed agreements to provide operations and maintenance (O&M) services for 285 MWp of solar projects of two leading renewable energy companies. Following these agreements, the company stated that its solar O&M portfolio has grown to 1 GW within a month of entering this segment.

Inox Green added that the projects are located across multiple sites, which are owned by the said companies, without disclosing the names of the companies.

The stock surged 6.44 per cent to hit a high of Rs 157.85. It was last seen trading 4.32 per cent up at Rs 154.70. At this price, it has climbed 11.38 per cent in a month.

SK Mathu Sudhana, CEO of Inox Green, said, "As developers across India continue to add multi-gigawatt solar capacities every month, we believe that through our expertise, credentials and tailor-made solutions for solar project O&M, we are well placed grow rapidly in this segment."

Technically, Inox Green's scrip traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-day and 150-day simple moving averages (SMAs) but lower than the 200-day simple moving average (SMA). Its 14-day relative strength index (RSI) came at 67.39. A level below 30 is defined as oversold while a value above 70 is considered overbought.

As per BSE, the stock has a price-to-earnings (P/E) ratio of 231.49 against a price-to-book (P/B) value of 2.88. Earnings per share (EPS) stood at 0.67 with a return on equity (RoE) of 1.24. According to Trendlyne data, Inox Green Energy has a one-year beta of 1.5, indicating high volatility.

The stock saw high trading volume on BSE as around 2.86 lakh shares changed hands at the time of writing this story. The figure was higher than the two-week average volume of 1.51 lakh shares. Turnover on the counter came at Rs 4.43 crore, commanding a market capitalisation (m-cap) of Rs 5,694.27 crore.

As of March 2025, promoters held a 55.93 per cent stake in the Inox Wind subsidiary.