Inox Wind sells a ₹7,400 crore stake in its subsidiary for ₹175 crore.

On Tuesday, August 19, Inox Wind Ltd. shares are in the spotlight after the firm announced that it has sold investors a ₹175 crore interest in its subsidiary Inox Renewable Solutions Ltd. at a valuation of ₹7,400 crore. The subsidiary, formerly known as Resco Global Wind Services Pvt. Ltd., is an engineering, procurement, and construction (EPC) firm. In addition, brokerage firm Nuvama maintained its "buy" rating on Inox Wind but lowered its price objective by 19%, from ₹236 to ₹190. In contrast to the average projection of 180 megawatts (MW), the company recorded a modest execution in the June quarter, with 146 MW.