Multibagger Electrical Equipment Stock Rallies 7% On Report Of Block Deal, Hits New 52-Week High

Electrical equipment company, Inox Wind's shares in early trade on Tuesday jumped nearly 7%, hits 52-week high at Rs 224.35 on the BSE. The jump in the share came amid reports of a block deal worth Rs 500 Crore.

According to an ET Now report, a number of foreign institutional investors (FIIs), Nippon Mutual Fund, and others purchased the company's shares in a block sale.

According to a report by CNBC-TV18, the promoter entity of the company offering wind energy solutions was going to sell a stake worth Rs 500 Crore via a block deal on Tuesday. According to reports, the offer price will be at a maximum discount of 5% off the going rate.

The stock of Inox Wind is currently trading at Rs 220.60 per share, up 5.12% from its previous close. The stock has given multibagger returns over the past 1 year. It jumped 5..87% in 1 week. It gave 91.67% strong return in 3 months and 133.65% in 6 months, respectively. It jumped 114.06% multibagger return in 1 year.

Inox Wind is a fully integrated player in the wind energy market with three cutting-edge production facilities in Gujarat, Himachal Pradesh, and Madhya Pradesh with a combined manufacturing capacity of 1,600 MW.