Inox Wind has allotted 55,00,000 equity shares of Rs 10 each of the company to Samena Green and Lend Lease Company (India) (non-promoters) on conversion of warrants.

Post the above allotments, the Issued and Paid-up Equity Share Capital of the Company now stands increased to Rs. 282,77,53,660.

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Inox Wind announced that CRISIL Ratings has upgraded its ratings on the long term and short-term bank facilities of the Company aggregating Rs 1250 crore and also revised its outlook from stable to positive in relation to ratings of Company's facilities, the details of which are as under:

Long term rating - CRISIL BBB+/ Positive (upgraded from CRISIL BBB/ Stable)

Short term rating - CRISIL A2 (upgraded from CRISIL A3+)

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The stock slipped around 14% in the past eleven trading sessions to end at Rs 109.65 yesterday, from its recent closing high of Rs 127.50 recorded on 2 December 2022.

On the BSE, 62,977 shares were traded in the counter so far compared with average daily volumes of 50,152 shares in the past two weeks. The stock hit a high of Rs 119.55 and a low of Rs 109.6 so far during the day.

The stock hit a 52-week high of Rs 160.4 on 16 September 2022. The stock hit a 52-week low of Rs 75.4 on 1 July 2022.

The stock had underperformed the market over the past one month, sliding 2.32% compared with 0.02% rise in the Sensex.

The scrip had underperformed the market in past three months, declining 18.24% as against Sensex's 2.41% rise.

The counter had also underperformed the market in past one year, slipping 3.6% as against 9.56% jump in Sensex.

On the technical front, the stock's daily RSI (relative strength index) stood at 41.921. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock is trading below its 50-day and 100-day simple moving average (SMA) placed at 133.12 and 127.83 respectively. These levels will act as crucial resisitance zones in near term.

However, the scrip is trading above its 200-day simple moving average (SMA) placed at 112.19.

Inox Wind is a wind energy solutions provider servicing IPPs, utilities, PSUs & corporate investors. The company is a fully integrated player in the wind energy market with three manufacturing plants in Gujarat, Himachal Pradesh and Madhya Pradesh. Its manufacturing capacity stands at 1,600 MW per annum.

The company reported a consolidated net loss of Rs 132.87 crore in the quarter ended September 2022 as against net loss of Rs 57.26 crore during the previous quarter ended September 2021. Net sales declined 35.3% to Rs 107.22 crore in Q2 FY23 over Q2 FY22.

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Net Loss of Inox Wind reported to Rs 132.87 crore in the quarter ended September 2022 as against net loss of Rs 57.26 crore during the previous quarter ended September 2021. Sales declined 35.35% to Rs 107.22 crore in the quarter ended September 2022 as against Rs 165.84 crore during the previous quarter ended September 2021.

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