Inox Wind Share Price Target: 20% Return Target Set, Competes with Suzlon in Wind Turbine Sector

Inox Wind Share Price Target: Inox Wind, a key competitor of Suzlon Energy in the wind turbine sector, has shown promising growth and received a 20% return target from brokerage firms. For the first time, the company posted a profit in the June 2024 quarter, which has caught the attention of investors. Major brokerage firms are now recommending a “buy” on this stock due to its potential for further growth.

Highlights:

• Inox Wind reported its first profit in Q1 FY2024, making it an attractive stock for investors.
• The company has received a 20% target return recommendation from Axis Direct, suggesting a stock price target of ₹270.
• Inox Wind’s stock has shown a massive 327% return in the last year.
• The company’s market cap stands at ₹29,361.44 crores with a debt of ₹1,453.93 crores.
• Like Suzlon, Inox Wind is gradually reducing its debt, offering potential for further stock growth.

Inox Wind Share Price Target

Inox Wind: A Competitor to Suzlon Energy

Inox Wind, operating in the wind turbine sector much like Suzlon Energy, is emerging as a strong competitor. The company’s recent performance, including its first-ever profit in the June 2024 quarter, has made it a focus for investors and analysts alike. Inox Wind’s ability to secure more orders, supported by favorable government policies, has created optimism about its future growth prospects.

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First Quarterly Profit and Brokerage Recommendations

In the June 2024 quarter, Inox Wind reported its first profit, signaling a potential turnaround for the company. This milestone has led Axis Direct to recommend the stock with a target price of ₹270, offering a 20% upside from its current level. The stock’s 52-week high stands at ₹237, while its low is ₹47.05, indicating significant volatility but also the potential for high returns.

327% Return in Last Year

Over the past year, Inox Wind has rewarded its investors with an impressive 327% return. This strong performance, combined with optimistic projections for future orders, positions the company well in the growing renewable energy sector. As wind energy becomes a larger focus in India’s energy policy, companies like Inox Wind are expected to benefit significantly.

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Debt Reduction: A Key Factor for Future Growth

Currently, Inox Wind has a debt of ₹1,453.93 crores, but the company is making steady progress in reducing its liabilities. Much like Suzlon Energy, Inox Wind’s efforts to cut down on debt could lead to a significant rally in its stock price in the future. Investors are hopeful that as the company continues to reduce its debt, the stock will see further upward momentum.

Inox Wind vs Suzlon Energy: A Competitive Landscape

Both Inox Wind and Suzlon Energy operate in the same sector, and they are often compared due to their similar business models and market presence. While Suzlon has established itself as a leader in the industry, Inox Wind is steadily making strides with its improved financial performance and strategic initiatives.

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Final Thoughts

Inox Wind’s strong performance, first-quarter profit, and positive outlook from brokerage firms have positioned it as a promising stock in the renewable energy sector. With a 20% return target, continued focus on reducing debt, and the potential for more orders due to favorable government policies, Inox Wind is poised for further growth. Investors should keep a close watch on this stock as it continues to compete with industry giants like Suzlon Energy.

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