Inox Wind witnessed a 2 per cent surge in its shares during the early trading session on January 9, attributable to the company's recent triumph in securing a 50-MW wind power project from NLC India.

As of 9:27 am, the stock on the Bombay Stock Exchange (BSE) was quoting at Rs 504.70, reflecting a notable increase of Rs 9.80 or 1.98 per cent.

This positive market response came on the heels of Inox Wind's announcement that it had received a Letter of Intent (LoI) to undertake a turnkey execution of a 50 MW ISTS-connected wind power project from NLC India Limited, a distinguished Navratna Central Public Sector Undertaking (CPSU).

The specifics of the project involve Inox Wind taking charge of supplying, installing, and commissioning its cutting-edge DF 113/92 - 2.0 MW capacity Wind Turbine Generators (WTGs).

Additionally, the company is set to provide comprehensive operations and maintenance (O&M) services for an extended period exceeding 10 years post-commissioning.

The chosen location for this pivotal project is the sprawling Dayapar site nestled in the Kutch district of Gujarat, showcasing Inox Wind's commitment to contributing significantly to the renewable energy landscape.

This achievement follows closely on the heels of Inox Wind securing another substantial order in December, involving a 279-MW project from a prominent commercial and industrial player.

The project, a mix of equipment supply with limited scope Engineering Procurement Construction (EPC) for 180 MW and end-to-end turnkey execution for 99 MW, further solidifies Inox Wind's position in the renewable energy sector.

A closer examination of the stock's performance reveals that it reached a 52-week high of Rs 540.00 on January 3, 2024, and a 52-week low of Rs 89.60 on February 6, 2023.

Presently, the stock is trading 6.54 per cent below its 52-week high and an impressive 463.28 per cent above its 52-week low.

This trajectory underscores the market's positive reception of Inox Wind's strategic endeavours and its successful pursuit of key projects, reinforcing the company's trajectory for sustained growth and success in the dynamic renewable energy sector.