Inox Wind share price dips 3.7% despite short-term facilities being upgraded to highest ratings by Care | Stock Market News
Source: Live Mint
Stock Market Today: Inox Wind share price dipped up to 3.7% in the intraday trades on Monday despite various short-term facilities being upgrades by Care Ratings.
The Inox Wind share price opened at ₹153.70 on the BSE on Monday, more than 1% lower than the previous close of ₹155.35. The Inox Wind share price thereafter declined to further lows touching ₹149.50, which translated into decline of up to 3.7%. Notably the markets remained under pressure and benchmark indices and broader markets saw steep corrections.
Inox Wind share price that has seen sharp corretion of around 18% in 2025, howver has been a multibagger stock having given more than 55% returns in the last two years.
Inox Wind on Monday 13, January 2025, before the market opening had announced on the exchanges that Inox Wind’s Short-Term facilities upgraded to highest rating by CARE
Rating Upgrade details
As per the press release by Inox Wind on the Exchanges Inox Wind Limited (IWL), India’s leading wind energy solutions provider, said that Care Ratings (CARE) has upgraded the ratings for the Company’s banking facilities. CARE has ascribed the following ratings:
CARE A1+’, the highest rating for Short Term Bank Facilities, upgraded from CARE A1. The rating upgrade further demonstrates Inoc Winds strong financial position as the company utilises most of its banking facilities by way of letter of credits (LC) and bank guarantees (BG), said Inox
CARE A+ / STABLE’ rating have been assigned on Inox Winds Long Term Bank Facilities, upgraded from CARE A / Stable. These facilities are rarely utilised for cash management purposes only, since Inox Winds balance sheet is already net cash positive
Inox Wind Business outlook and order book
Inox Wind’s business is expanding at a rapid pace buoyed by a strong growth outlook in its order execution and profitability going ahead. Its robust order book of 3.5 GW is supported by a large order pipeline, as India surges ahead to add renewable capacities on a massive scale over the next decade.
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