Shares of Inox Wind Ltd. saw a 3% increase in Thursday's trading session following the announcement of a substantial repeat order from Indian Oil Corporation (IOC). The wind turbine generator manufacturer secured a 100 MW turnkey project from India's largest oil marketing company, with the contract valued at approximately Rs 755 crore.
The order encompasses the end-to-end execution of the project, including the supply of wind turbine generators, engineering, procurement, and construction (EPC) services, as well as comprehensive post-commissioning operations and maintenance (O&M) services.
Market Reaction and Analyst Outlook
Inox Wind's stock opened at Rs 71.98, up from its previous close of Rs 70.42 on the BSE, and reached an intraday high of Rs 72.28. This rise occurred amidst a broader gain in the energy sector, with the Nifty Energy index also showing positive movement.
Despite this recent uptick, Inox Wind shares have experienced a decline of 42.82% year-to-date in 2026. However, market analysts remain optimistic about the company's future prospects. According to Bloomberg, the 12-month consensus target price for Inox Wind stands at Rs 110, suggesting a potential upside of 55% from current levels. Firms like JM Financial and Motilal Oswal Financial Services have 'Add' ratings with target prices of Rs 92, while Investec, Systematix, and Nuvama have set higher targets of Rs 138, Rs 109, and Rs 120 respectively.
Strengthening Portfolio and Renewable Energy Growth
Kailash Tarachandani, Group CEO for Renewables business at INOXGFL Group, highlighted that this repeat order reinforces the confidence leading institutional customers place in Inox Wind's capabilities. The company's customer portfolio spans commercial and industrial (C&I) clients, public sector undertakings (PSUs), and independent power producers (IPPs).
"This repeat order is a testament to the confidence that leading institutional customers place in our integrated capabilities and execution track record," Tarachandani stated, emphasizing India's growing opportunities in wind power as part of its renewable energy transition.
The company's ability to meet its ambitious FY27 revenue growth guidance of 75% year-on-year will be closely monitored, especially given that Q1 delivered only 8% of the full-year target. New order inflows, particularly from third-party clients, and an accelerated execution ramp-up are key factors for continued growth.