Why Inox Wind shares soared 12% today, stock price target & more
Shares of Inox Wind Ltd climbed 10 per cent in Saturday’s trade following a better-than-expected Q3 results, with in-line execution at 189MW. Buy Inox Wind stock, said Nuvama Institutional Equities as it suggested a target price of Rs 233 on the stock. The stock climbed 11.93 per cent to hit a high of Rs 188.45. Nuvama’s target price suggests a 24 per cent upside over this price.
Nuvama said Inox Wind’s revenue per MW was subdued at Rs 4.5 crore per MW due to low EPC sales, which was offset by higher operating profit margin at 22.7 per cent against estimate 17 per cent on product heavy mix.
“PAT beat estimate by 27 epr cent, adjusted for exceptional items (higher other income offset by one-off tax charge; exhibit 2, 3). Order inflow…
