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 b...