Multibagger smallcap stock climbs 9% as board to consider bonus share proposal

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At 11:04 am, the stock was trading 2.2% higher on BSE. Over the past year, it has delivered multibagger returns to investors, rallying over 500%, and nearly 600% in the last three years.

Last week in April, Wind energy solutions provider Inox Wind secured a repeat order for 210 MW for its 3 MW wind turbine generators from Hero Future Energies (HFE). Additionally, Inox Wind will also provide post-commissioning multi-year Operations & Maintenance (O&M) services.

The WTGs will be supplied to HFE from Q3 FY25 onwards and will be installed in South India.

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As per Trendlyne data, the average target price of the stock is Rs 700, which shows an upside potential of 15% from the current market prices. The consensus recommendation from 4 analysts for the stock is a 'Buy'.

In technical terms, the relative strength index (RSI) of the stock is currently at 64.3, signaling it's neither trading in the overbought nor in the oversold territory. Additionally, the MACD is at 8.0, which is above its center and signal line, this is a bullish indicator.

Inox Wind stock stood higher than the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day and 200-day simple moving averages (SMAs).

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