Inox Wind to Issue Bonus Shares in 3:1 Ratio, Shares Surge 9.2%

Listen to our Podcast: Grow your wealth and keep it secure.

0:00 / 0:00

Synopsis:

 Inox Wind's shares surged 9.2% to a 52-week high of ₹658.5 after announcing the approval of bonus equity shares in a 3:1 ratio. This move aims to strengthen the company's capital base without cash outflow and enhance share liquidity. Additionally, the company turned profitable in the September-December 2023 quarter, reflecting its strong position amidst sector tailwinds.

Inox Wind News Today

Inox Wind Limited witnessed a 9.2% surge in its shares, reaching a fresh 52-week high of ₹658.5 on the Bombay Stock Exchange (BSE) on Thursday. The company's board approved the issuance of bonus equity shares in a ratio of 3:1, reflecting its commitment to enhancing shareholder value.

The issuance of bonus shares, to be allocated from the company's accumulated reserves, aims to fortify Inox Wind's capital base without any cash outflow. Moreover, it is expected to amplify the liquidity of the company's shares, facilitating broader investor participation.

Additional Read: Share Market News

Strategic Moves and Profitable Growth

Under the leadership of Executive Director Devansh Jain, Inox Wind has strategically positioned itself for growth, evident from its profitability in the September-December 2023 quarter. Over the past two years, the company has diligently strengthened its balance sheet, ramped up operations, and invested in technological advancements to secure its position in the wind energy market.

Future Outlook

The wind energy sector presents substantial growth opportunities, and Inox Wind is poised to capitalise on them. With a robust order book and a focus on operational efficiency, the company anticipates significant improvements in profitability moving forward.

In Conclusion

Shareholders can look forward to participating in the decision-making process at the Extraordinary General Meeting scheduled for May 17, 2024, where the issuance of bonus equity shares and an increase in authorised share capital will be discussed and approved, marking a significant step in the company's expansion journey.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

Sources:

https://economictimes.indiatimes.com/markets/stocks/
news/inox-wind-shares-zoom-9-after-board-approves-31-bonus-shares/articleshow/109590826.cms?from=mdr

https://www.business-standard.com/companies/news/
inox-wind-board-cleares-bonus-issue-in-3-1-ratio-to-its-shareholders-124042500751_1.html

Share this article: 

Read More Blogs

Our Secure Trading Platforms

Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading

Bajaj Broking App Download

7.5 Lacs+ Users

icon-with-text

4.3+ App Rating

icon-with-text

4 Languages

icon-with-text

₹4300 Cr MTF Book

icon-with-text