Inox Wind share price gains 3% on order win for Gujarat, Karnataka project

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The contracts include supply and commissioning of 2 MW DFIG 113 meters rotor diameter Wind Turbine Generators (WTGs) as well as providing comprehensive operations and maintenance services for the life time of the project, the company said.

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Inox Wind share price was up 3 percent in the morning session on February 17 after the company bagged orders for 62 MW generators in Gujarat and Karnataka.

Inox Wind announced new orders for the supply and installation of wind turbine generators of 62 MW from IPPs and retail customers spread across various industries for third party sales and captive consumption. The projects will be executed on a turnkey basis across locations in Gujarat and Karnataka, the company said in an exchange filing.

“The contracts include supply and commissioning of 2 MW DFIG 113 meters rotor diameter Wind Turbine Generators (WTGs) as well as providing comprehensive operations and maintenance services for the life time of the project. Inox Wind provides its customers with end to end integrated solutions for the entire wind power value chain,” it said.

The orders are expected to be commissioned by September 2021. The company, which enjoys one of the largest order books in the industry, has further strengthened its order book with fresh orders, it added.

The stock was trading at Rs 70.05, up Rs 2.00, or 2.94 percent at 09:29 hours. It has touched an intraday high of Rs 71.10 and an intraday low of Rs 69.65.

The total income of the company rose to Rs 209.44 crore in the quarter ended December 2020 from Rs 179.76 crore a year ago, the company said in a BSE filing. However, Inox Wind said its consolidated net loss widens to Rs 51.97 crore in the December quarter. It had reported Rs 27.47 crore loss in the same period a year ago.