Shares of Inox Wind Ltd. dropped by over 3% after touching a day’s high of Rs 179.40 on 6th August, despite the company announcing a 201 megawatt (MW) equipment supply order from Integrum Energy.

Integrum Energy offers project management and asset management services for industrial and commercial clients who want to set up wind and solar hybrid power plants.

This order includes the supply of 3 MW wind turbine generators, and Inox Wind will also provide multi-year operations and maintenance services after commissioning.

Inox Wind will carry out the project in four states: Madhya Pradesh, Rajasthan, Karnataka, and Maharashtra.

The company’s CEO, Kailash Tarachandani, highlighted that the 3 MW wind turbine generators are highly preferred by project developers due to their efficiency.

The company operates four state-of-the-art manufacturing plants in Gujarat, Himachal Pradesh, and Madhya Pradesh, producing blades, tubular towers, hubs, and nacelles.

The firm’s current manufacturing capacity is approximately 2.5 GW per year.

In May, the firm received a Rs 900 crore fund infusion from its promoter, Inox Wind Energy Ltd., which was used to reduce external term debt, achieving net debt-free status.

The stock is down from its all-time high of Rs 190 and has gained 28% YTD. The stock has rallied 220% in the last year.

At 3:19 PM, the shares of Inox Wind were trading 2.88% lower at Rs 165.40 on BSE.

Ready to invest like a pro? Unicorn Signals app equips you with 100+ Free tools and knowledge you need to succeed. Download the Unicorn Signals app and gain access to daily stock lists and insightful market analysis and much more!