India's INOX Wind hits 8-yr high; ICICI Securities initiates with 'buy'

Suzlon Energy

11/12/2023 05:22

** Shares of INOX Wind  INWN.NS  rise as much as 9.8% to 399
rupees, highest level since Nov 2015
    ** ICICI Securities initiates coverage on co, which supplies
wind energy solutions, with "buy" and PT at 425 rupees
    **  Says 50% of wind market looking for full stack supplier;
INWN will be a major supplier along with Suzlon  SUZL.NS  
    ** INWN will be aided by new govt policy for renewables,
brokerage says
    ** ICICI sees INWN's earnings at 4.4 bln rupees in FY25 and
6.5 bln rupees in FY26
    ** Brokerage says more wind power needed, sees capacity
addition to increase to more than 6.5 gigawatt in FY26 from 2GW
presently
    ** INWN shares nearly quadrupled YTD vs 23% gains in Nifty
exergy index  .NIFTYENR  
    
 

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))