Inox Wind shares dip 18% in last 2 days. What’s wrong?

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After the sale of a 5% stake by the promoter entity, shares of the multibagger stock Inox Wind dipped 18% in the last two days to the day's low of Rs 134 on BSE on Wednesday.

The promoters of Inox Wind on Tuesday offloaded 5% stake in the company via a block deal, which was executed at a floor price of Rs 151 apiece, at a discount of nearly 8% from the stock's previous close.


As of the quarter ended March 2024, IWEL held a 38.43% stake in the company. 5% each stake was held by promoter groups Aryavardhan Trading, Inox Leasing And Finance and Devansh Trademart while the remaining 47.13% stake was held by the public.

Also read: Campus Activewear shares rally 13% after Q4 results. Should you buy, sell or hold?

Inox Wind had also announced a 1:3 bonus share issue earlier in the month to its eligible shareholders, meaning that for every 1 equity share held, 3 new equity shares will be issued. The shares started trading on an ex-bonus basis on May 24.

The company had recently also received an ‘A’ rating from CARE Ratings for its banking facilities which reflects Inox Wind’s strong financial position, robust execution capabilities, large order book, and strong macro tailwinds.


The stock has given 327% gains to its investors in the last one year while it has more than doubled in the last 6 months itself. However, the stock has declined by 10% in the last month.

Currently, on charts, the stock is placed below its 20 and 50-day exponential moving averages but sustaining above the 100 and 200 DEMA as per Trendlyne data, while on RSI, the stock is neutrally placed near the 50 mark.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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