Brokerage Nuvama trimmed its target price on Inox Wind to ₹190 while retaining a buy call, implying 39% upside.
Inox Wind shares extended their gains on Tuesday after the company announced the divestment of a stake worth about ₹175 crore in its engineering, procurement and construction (EPC) subsidiary, Inox Renewable Solutions.
At the time of writing, shares of Inox Wind were trading at ₹144.90, up ₹4.91 or 3.5%.
The rally comes after six consecutive sessions of losses, offering temporary relief to investors.
Despite Tuesday’s gains, Inox Wind shares remain down about 22% in 2025 so far.
At current prices, the stock continues to trade nearly 44% below its all-time high of ₹261.90 on the NSE, highlighting its significant underperformance compared to earlier peaks, according to SEBI-registered analyst Akhilesh Jat.
Meanwhile, SEBI-registered analyst Prabhat Mittal pointed out that the stock has taken multiple supports around the ₹132 zone on the medium-term charts, making ₹132–₹135 an attractive buying level.
Mittal added that ₹130 is a major support and that the risk-reward profile is very favorable.
He suggested traders could accumulate in the range of ₹138–₹146 with a strict stop loss at ₹129. On the upside, he sees potential targets at ₹180 and ₹200 over the short to medium term.
Brokerage Take
Nuvama has maintained its “buy” recommendation on Inox Wind but cut its price target to ₹190 from ₹236. The revised target still implies a potential upside of 39% from current levels.
Nuvama said Inox Wind reported modest execution in the June quarter at 146 megawatt (MW), lower than the consensus estimate of 180 MW.
Revenue came in muted at ₹830 crore, though this was offset by a higher operating margin of 22.2%. Order intake was soft at 51 MW, taking the order book to 3.1 GW with an execution period of over 24 months.
The brokerage also cut its FY26 and FY27 execution timelines to 1.1 GW and 1.8 GW respectively, from earlier projections of 1.2 GW and 2 GW.
On Stocktwits, retail sentiment was ‘neutral’ amid ‘high’ message volume.
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