NSEShares of Inox Wind Ltd., the Wind Turbine manufacturer are up 9% on Friday and is up for the second day in a row.
The stock is trading at an ex-bonus basis.Inox Wind had earlier declared a bonus issue where it issued three free shares for every one held.On the charts, the Relative Strength Index (RSI) for Inox Wind is at 66.
An RSI reading above 70 would mean that the stock is in overbought territory.The company recently posted a net profit of ₹20.3 crore, compared to a net loss of ₹1.8 crore a year ago.
Today's surge has also ensured that the stock turns positive for the month of May.
Shares had risen 20% in April and 26% in February this year.
NSE
Shares of Inox Wind Ltd., the Wind Turbine manufacturer are up 9% on Friday and is up for the second day in a row. The stock is trading at an ex-bonus basis.Inox Wind had earlier declared a bonus issue where it issued three free shares for every one held.On the charts, the Relative Strength Index (RSI) for Inox Wind is at 66. An RSI reading above 70 would mean that the stock is in overbought territory.The company recently posted a net profit of ₹20.3 crore, compared to a net loss of ₹1.8 crore a year ago. Last month, the company had received an order for the supply of 210 MW of wind turbine generators (WTGs) from Hero Future Energies.Inox Wind is a part of the $8-billion INOXGFL Group, which is into chemicals and renewable energy businesses.Inox Wind management in a conference call in February had told analysts that numerous order wins in the last quarter of financial year 2024, had taken the total order book to around 2.6 GW, providing strong revenue growth visibility.Shares of Inox Wind are trading 9.6% higher at ₹165.75. Today's surge has also ensured that the stock turns positive for the month of May. Shares had risen 20% in April and 26% in February this year.
