Stock Market: When the promoter invested money in the company, today the share became a rocket.
Inox Wind is in the process of becoming debt free. Shares of Inox Wind have been rising for a long time. It has given 290% profit in one year.
New Delhi. Shares of energy company Inox Wind rose sharply today, Thursday. At 11 am, the share was trading at Rs 159.09 on the NSE, up 11.66 percent. The share reached Rs 164 after opening in the morning. Inox Wind Share is a multi-bagger stock. This stock has given investors a return of 290% in one year. Shares of the company rose today following news that its promoter Inoxwind Energy Limited has made an equity investment of Rs 900 crore in the company.
The promoter raised the amount by selling its stake in Inoxwind Limited through a block deal on May 28, 2024. Through this block deal, 2.75 crore shares of the company or about 5% stake were sold. The entire deal was done at an average price of Rs 151 per share.
Tax Free Income: If you earn money from here, you will not have to pay a single penny of income tax.
The company wants to be debt free.
Inoxwind said in a filing to stock markets that it will use the proceeds to fully reduce its internal debt, so that it can achieve debt-free company status. InoxWind CEO Kailash Tarachandani said the fund will help the company become net debt-free, strengthen its balance sheet and accelerate growth, Moneycontrol reported. We expect to save on debt interest expenses in the future which will further increase our profitability.
CRISIL has upgraded the rating.
In early June, rating agency CRISIL had upgraded Inoxwind’s long-term and short-term ratings for banking facilities. CRISIL had said that the company’s financial position is better than ever and its business risk profile has also improved.
The amount quadruples in a year.
On July 4, 2023, the share price of Inox Wind was Rs.40.63. Today it has increased to Rs 158. Thus this multi-bagger share has given 290% profit in one year. This means that within a year the Rs 1 lakh invested by the investor in this share has now turned into Rs 4 lakh.
(Disclaimer: The information given here is based on share performance. As investing in stock market is subject to market risk, please consult a certified investment advisor before investing. News 18 Hindi becomes responsible for any damages you incur.)
Tags: business news, Money making tips, Multi bagger stock, Stock market today
First Publication: July 4, 2024, 11:21 IST
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