Inox Winds blows Russian side!

Inox is blowing some pretty rough wind today, more so from the Russian side!

This is not officially confirmed by the company but the grapevine is buzzing with news that a Russian Govt-owned company, Rosatom State Atomic Energy Corp. is looking at options of investing in the company’s wind turbine manufacturing business.

Despite falling wind energy tariffs, this interest is evinced by the Russian company to gain  control over the supply chain to help control the costs and offer competitive tariffs in the country’s wind power space.

On Friday, the stock had hit a new low at Rs.104.90 after which it went on to breach the upper circuit at Rs.129.15. Today, despite this news, the stock remains in the red at around Rs.128 levels; this is after hitting a new intra day low at Rs.125.60.