3 weeks ago
Inox Wind shares in downtrend, hit fresh 52-week low
Inox Wind is a company that makes machines to turn wind into electricity.
People buy and sell small pieces of the company called shares.
Lately, shares of Inox Wind have been getting cheaper.
The share price fell to its lowest point in a whole year.
It has lost 40 percent of its value this year.
This means many investors are feeling worried.
Some experts still think the shares will go up later and say to keep holding or buying.
Other experts say people should wait and not buy right now.
The share price went up a little after hitting its lowest point.
If the price climbs past a certain level, it could keep rising toward higher prices.
Inox Wind shares hit a fresh 52-week low of Rs 72.73 after slipping to Rs 73.21 in the previous session.
The stock has fallen 40% this year and its RSI of 32.6 signals it is near the oversold zone.
After touching the low, the stock reversed to rise 1.07% to Rs 74.29 in late morning deals.
Brokerage MOFSL retained a BUY rating with a Rs 92 price target but cut FY27/FY28 revenue estimates by 8% and 10%.
Technical analyst Virat Jagad says the stock is in a clear downtrend and advises avoiding fresh buying, with upside possible above Rs 81.
- Who
- Inox Wind Limited, an Indian wind energy solutions provider, along with its investors and brokerage MOFSL.
- What
- Inox Wind shares hit a fresh 52-week low and fell 40% this year amid a continued downtrend.
- Where
- On the Indian stock market, where Inox Wind shares trade in rupees.
- When
- In two consecutive recent trading sessions, with the fresh low of Rs 72.73 recorded in the current session.
- Why
- An ongoing correction in the stock, high volatility (beta of 1.76), and lower expected deliveries in FY27/FY28 have weighed on the share price.
Bullish view
Cautious view
Outlook on the stock
Bullish view
Brokerage MOFSL retained a BUY rating with a Rs 92 price target, citing attractive valuations and a seasonally stronger second half.
Cautious view
Technical analyst Virat Jagad said the stock remains in a clear downtrend below all major EMAs and advised avoiding fresh buying at current levels.
Key facts
- Current share price
- Rs 74.29 (up 1.07%)
- Fresh 52-week low
- Rs 72.73
- Year-to-date decline
- 40%
- RSI
- 32.6
- Beta
- 1.76
- Market capitalisation
- Rs 12,858 crore
- MOFSL price target
- Rs 92 with BUY rating
- FY27/FY28 delivery estimates
- 1.1 GW / 1.3 GW
Quotes
Virat Jagad Sr. Technical Research Analyst
Analyst at MOFSL brokerage
“Stock remains in a clear downtrend, trading below all major EMAs and near support around Rs 73–75. Avoid fresh buying at current levels. Existing-position SL should remain below support. A sustained move above Rs 81 can trigger upside towards Rs 90–95 level.”
businesstoday.in
Sources
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