INOX Wind share price jumps nearly 12% ahead of Nirmala Sitharaman's budget 2025 speech. Do you own?

Inox Wind share price jumped nearly 12% following its Q3 earnings report and leading up to the announcement of the Union Budget 2025-2026 in Parliament today. Finance Minister Nirmala Sitharaman is prepared to unveil her eighth consecutive Budget today.

On Friday, Inox Wind disclosed a significant increase in its consolidated profit after tax (PAT) to ₹239 crore, supported by an uptick in revenues. In the equivalent quarter from the previous year, the company had reported a PAT of ₹33 crore, according to a statement released by the company.

The consolidated revenues for the company surged by 96%, reaching ₹994 crore compared to ₹507 crore for the October-December period of 2023-24. At the conclusion of the third quarter of the current fiscal year, Inox Wind's order book stood at 3,286 MW, which is 28% higher than the 2,575 MW recorded in the same period last year.

Additionally, Inox Wind shares have been responding to the optimism surrounding the government's recent emphasis on renewable energy, highlighting stocks in this sector, with anticipation of potential announcements related to it.

“With the global shift towards sustainability, there is an expectation for increased emphasis on renewable energy and green technologies. Incentives for green bonds or Environmental, Social, and Governance (ESG) investments may also be introduced, aligning with global sustainability goals,” said Gurmeet Singh Chawla, Director Master Capital Services Ltd.

Inox Wind share price today

Inox Wind share price today opened at ₹178.05 apiece on the BSE, the stock touched an intraday high of ₹188.45 and an intraday low of ₹173.55 apiece.

According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Inox Wind share price have seen strong traction this week with prices up around 30% for this week, the initial start for the budget day has been with a gap up and amidst volatility 170 would be seen as immediate support whereas 200 is immediate resistance.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.