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Inox Wind is in the process of becoming debt free. Inox Wind stock has been in a bullish trend for a long time. It has given 290 percent return in one year.
New Delhi. Shares of energy company Inox Wind have seen a stormy rise today i.e. Thursday. At 11 am, this stock was trading at Rs 159.09 on NSE with a rise of 11.66 percent. After opening in the morning, this stock once again reached Rs 164. Inox Wind stock is a multibagger stock. In one year, this stock has given 290 percent profit to the investors. The company’s shares rose today after the news that its promoter, Inoxwind Energy Limited has made an equity investment of Rs 900 crore in the company.
The promoter raised this amount by selling its stake in Inoxwind Limited through a block deal on May 28, 2024. 2.75 crore shares or about 5 per cent stake of the company were sold through this block deal. The entire deal was done at an average price of Rs 151 per share.
Tax Free Income : If you earn from here then you will not have to pay even a penny as income tax
The company wants to be debt free
In a notice to the stock exchanges, Inoxwind has said that it will use this money to completely reduce its internal debt, so that it can get the status of a debt-free company. According to a report by Moneycontrol, Inoxwind CEO Kailash Tarachandani said that this fund will help the company to become net debt free, strengthen its balance sheet and accelerate growth. We hope that in future the interest expenses on the loan will be saved, which will further increase our profits.
CRISIL has upgraded the rating
In early June, rating agency Crisil upgraded Inoxwind’s long-term and short-term ratings for banking facilities. Crisil said the company’s financial position had improved and its business risk profile had also improved.
Four times the money in a year
The price of Inox Wind share on July 4, 2023 was Rs 40.63. Today it has increased to Rs 158. In this way, this multibagger share has given a return of 290 percent in one year. This means that in just one year, one lakh rupees invested by an investor in this share has now turned into four lakhs.
(Disclaimer: The information given here is based on the performance of the stock. Since investing in the stock market is subject to market risk, please consult a certified investment advisor before investing. AyraNews24x7 Hindi will not be responsible for any loss you may incur.)
Tag: Business News, Money making tips, Multibagger Stocks, stock market today
first published : July 4, 2024, 11:21 IST
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