Inox India Shares Jump 5% on Rs 939 Cr Order Wins
Inox India shares jumped 5% on 8 July, hitting a day high of Rs 1,908 on the NSE, after bagging Rs 939 crore in fresh orders. These are not orders from a single deal. They are spread across several parts of the business. The Industrial Gas segment brought in the... The post Inox India Shares Jump 5% on Rs 939 Cr Order Wins appeared first on Equitypandit.
Inox India shares jumped 5% on 8 July, hitting a day high of Rs 1,908 on the NSE, after bagging Rs 939 crore in fresh orders.
These are not orders from a single deal. They are spread across several parts of the business. The Industrial Gas segment brought in the bulk of it at Rs 871 crore, while the LNG business added Rs 44 crore.
Cryo-scientific Solutions contributed Rs 16 crore, and beverage keg orders made up the remaining Rs 8 crore. One standout order came from the space exploration industry, valued above Rs 150 crore, within the Industrial Gas segment.
Alongside this large win, the company also picked up smaller orders for vaporisers and storage tanks. The LNG business kept busy too.
Inox India secured orders for storage tanks, dispensers, semi-trailers and LNG fuelling station equipment, along with a smaller order from ITER, the international nuclear fusion research project.
On the remaining orders, the company won contracts for disposable cylinders, liquid cylinders, transport tanks and beverage kegs.
Chief Executive Officer Deepak Acharya said the wins reflect growing global demand for the company’s cryogenic technology, calling out the space sector in particular as a fast-growing area for the business.
For some background, Inox India makes equipment used to store and transport ultra-cold liquids such as LNG, industrial gases and liquid hydrogen.
It runs manufacturing plants in India, Brazil and Europe, and sells to customers in over 100 countries. The stock has had a strong run this year.
It is up nearly 70% year to date and has climbed more than 54% over the past 12 months. It’s trading at Rs 1,888.30 as of 12:29 pm, up 4.53% on the day.
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The post Inox India Shares Jump 5% on Rs 939 Cr Order Wins appeared first on Equitypandit.
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