lnox Wind bags repeat order from Roha Dyechem for 40 MW
lnox Wind Limited, one of India’s leading wind energy solutions providers, has bagged a repeat order for a 40 MW wind power project to be deployed in the state of Gujarat from Roha Dyechem Private Limited. Established in 1972, Roha Dyechem Private Limited (RDPL) is one of the fastest growing manufacturers of natural and synthetic colours, specializing in the food & beverage, paints, fertilizers, cosmetics and pharmaceutical industries. RDPL has diversified its activities in Renewable Energy, as one of the emerging sectors of its business in the years to come. RDPL has already successfully invested in an aggregate of 52.5 MW of Solar Energy and 13.5 MW in Wind Energy and further plans to reach a combined milestone of 500 MW at various locations.
The project is scheduled to be commissioned by March 2017 and will be executed on turnkey basis. The 40 MW order from Roha is part of the 350 MW of orders announced by lnox Wind on 3rd October 2016.
The order comprises of supply and installation of 20 units of lnox Wind’s pioneering 113 meter rotor diameter turbine. The 113 meter rotor diameter turbines are part lnox’s successful 2 MW platform and presently the company’s most technologically advanced wind- turbine variant.
As part of the turnkey order, lnox Wind will provide Roha Dyechem with end to end solutions from development and construction to commissioning and providing long term operations and maintenance services.
“With the new order, we will further build on our strong relationship with them as well as our market position in Gujarat as the leading wind energy solutions provider in the state. We are pleased to further build on the success of lnox’s 2 MW platform in India.” said Kailash Tarachandani, Chief Executive Officer of lnox Wind Limited in his statement.
“The group believes in sincerely contributing towards a cleaner, greener and safer planet, while pursuing the goal of helping to create a better place for people to live in. We have found a reliable partner in Jnox and are assured by lnox’s capability in delivering a sustainable and quality project/or us” said Ramakant Tibrewala, Chairman Roha Group in his statement.
Stock View:
Inox Wind Ltd is currently trading at Rs 187.05, up by Rs 2.2 or 1.19% from its previous closing of Rs 184.85 on the BSE.
The scrip opened at Rs 185.25 and has touched a high and low of Rs 188.75 and Rs 183.5 respectively. So far 118455(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 4102.16 crore.
The BSE group ‘B’ stock of face value Rs 10 has touched a 52 week high of Rs 378.4 on 23-Dec-2015 and a 52 week low of Rs 161 on 06-Sep-2016. Last one week high and low of the scrip stood at Rs 211 and Rs 182.25 respectively.
The promoters holding in the company stood at 85.62% while Institutions and Non-Institutions held 5.88% and 8.51% respectively.
The stock is currently trading below its 200 DMA.
Source:Indiainfoline
