Inox Wind Ltd, an integrated wind energy solutions provider, has witnessed a notable surge in its share price, hitting a record high of Rs 245, marking an impressive gain of over 4%. This surge is part of a broader rally in the market and has been accompanied by significantly high trading volumes, with a total of 2 crore shares changing hands on both BSE and NSE combined. This volume is double the one-week average, reflecting strong investor interest and confidence in the stock.

Inox Wind specializes in the manufacture and sale of wind turbine generators (WTGs). Beyond its core manufacturing business, the company also offers erection, procurement, and commissioning (EPC) services, operations and maintenance (O&M), and provides essential infrastructure services for wind farm development. This diversified business model positions Inox Wind as a critical player in India's wind energy sector.

A recent report from Axis Securities has further bolstered investor confidence in Inox Wind. The brokerage has reaffirmed its bullish stance on the stock, maintaining a 'buy' rating with a target price of Rs 200. Axis Securities highlights the company's debt-free status and its strong growth momentum as key reasons for its positive outlook.

Inox Wind’s EPC projects arm, Resco Global, has recently approved a substantial Rs 350 crore equity raise from high-profile investors. This funding is set to enhance Resco's business capabilities and capitalize on the positive trends in the wind sector in India. The strategic move includes the demerger of non-core substation assets from Inox Green Energy Ltd into Resco Global. This reorganization is expected to create a more asset-light structure for Inox Green Energy, unlocking additional value and aligning synergies between the two entities. The demerger will also lead to the automatic listing of Resco Global, further optimizing operational efficiencies and revenue generation.

However, the stock has also shown signs of being overbought on the daily charts, with the next resistance level identified at Rs 257. According to AR Ramachandran, an independent SEBI research analyst, investors are advised to book profits if the stock closes below the support level of Rs 236, as this could lead to a potential decline to Rs 204 in the near term.

As of the latest update, Inox Wind shares are trading 3.9% higher at Rs 243.25 on the National Stock Exchange (NSE). The stock has demonstrated remarkable performance this year, having gained around 85% so far, significantly outperforming the Nifty's 16% return. Over the past 12 months, Inox Wind has delivered a staggering 366% increase, more than quadrupling investors' capital, compared to the Nifty's 29% rise during the same period.

For more insights on IPOs and financial markets, visit Best IPO to Apply Now - IPO List 2024, Latest IPO, Upcoming IPO, Recent IPO News, Live IPO GMP Today - Finance Saathi and Top News Headlines - Share Market News, Latest IPO News, Business News, Economy News - Finance Saathi.

Join our Trading with CA Abhay Telegram Channel for regular stock market trading and investment calls by CA Abhay Varn - SEBI Registered Research Analyst & Finance Saathi Telegram Channel for regular share market, news, and IPO updates.

Start your stock market journey and apply in IPO by opening a free demat account in Choice Broking FinX.