Shares of Inox Wind Limited gained over 2.5% in early trade on Wednesday after brokerage firm Motilal Oswal Financial Services (MOSL) initiated coverage on the stock with a ‘Buy’ rating and a target price of Rs 210 per share.
MOSL highlighted Inox Wind as a leading vertically integrated player in India’s wind energy sector. The company offers end-to-end solutions ranging from project conception and commissioning to operations and maintenance (O&M) of wind power projects.
Inox Wind’s product portfolio includes 2MW and 3MW Wind Turbine Generators (WTGs), addressing a broad range of power generation needs for both utility-scale and industrial clients.
Analysts at MOSL believe that India’s renewable energy expansion plans and policy push towards green energy will benefit Inox Wind in the coming years. The brokerage noted that Inox Wind’s integrated manufacturing capabilities and service offerings give it a competitive edge in project execution and cost control.
Meanwhile, shares of Inox Wind were trading 2.41% higher at Rs 177.14 on the NSE as of 9:30 AM IST.
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