500% rally in 3 years! Multibagger Inox Group stock is Anand Rathi's pick of the month, 11% upside eyed; Do you own?

Inox Wind Share Price Trend: Inox Wind share price gained over four per cent on Thursday, April 24 and has rallied over 11 per cent in the last five sessions, extending its winning streak after bagging India's single largest wind order. The Inox Group energy stock has emerged as domestic brokerage Anand Rathi's pick of the month.

Inox Wind has delivered massive multibagger returns of over 500 per cent to investors in the last three years. Anand Rathi eyes a potential upside of 11.29 per cent from the stock's current level. On a monthly scale, the multibagger energy stock is up four per cent in April after an eight per cent gain in March.

Inox Wind is Anand Rathi pick of the month

Domestic brokerage Anand Rathi has given a target price of ₹199 from a current market price (CMP) of ₹179 and eyes a potential upside of 11.29 per cent. The energy stock is the pick of the month on technical parameters.

Anand Rathi said on Inox Wind's share price trend, “After a long consolidation, finally Inox Wind has managed to confirm a breakout above 177 mark. There is a strong base of double bottom formation around 140 zone.”

According to the brokerage, the price action is supported with a major range shift in daily RSI. "Thus, we advise traders to buy the stock between 179 - 175 with a stop loss of 166 for upside target of 199," said Anand Rathi.

Inox Wind Order Win

Inox Wind announced that the execution of the 990 MW turnkey order out of the 1,500 MW framework agreement signed is in full swing across multiple locations in the states of Gujarat, Rajasthan and Madhya Pradesh. The leading wind energy solutions provider said that it had received all advances related to these projects, and commissioning is expected in phases from FY26 onwards.

"This order from Purvah Green Private Limited, a subsidiary of CESC Ltd., is the single largest wind order awarded by an IPP (independent power producer) in India to any wind OEM (original equipment manufacturer)," said Inox Wind.

"We are pleased to announce that we are executing the entire 990 MW of the turnkey project for Purvah across multiple locations. We will commence the commissioning of the project in a phased manner starting FY26. This is a milestone order for Inox Wind from an esteemed customer. We are confident of deepening our relationship,” said Kailash Tarachandani, Group CEO, Inox Wind.

Inox Wind Share Price Trend

On Thursday, shares of Inox Wind opened at ₹175.45 and gained 4.24 per cent to hit an intraday high of ₹182.90 before settling 3.41 per cent higher at ₹180.50 apiece on the BSE. The Inox Group stock commands a market cap of ₹23,533.48 crore.

In the last one month, the stock has rallied 8.50 per cent and over 13 per cent in one year. On a year-to-date (YTD) basis, the stock has cracked 2.60 per cent amid a volatile market over global triggers. The stock has delivered massive 2,703 per cent multibagger returns to investors in the last five years.

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts, consider individual risk tolerance, and conduct thorough research before making investment decisions, as market conditions can change rapidly, and individual circumstances may vary.