Buy Inox Wind, target price Rs 120: Anand Rathi

Anand Rathi has buy call on Inox Wind with a target price of Rs 120. The current market price of Inox Wind Ltd. is Rs 104.95.

Inox Wind Ltd., incorporated in the year 2009, is a Small Cap company (having a market cap of Rs 2343.46 Crore) operating in Power sector.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 170.81 Crore, down -42.19 % from last quarter Total Income of Rs 295.46 Crore and up 67.63 % from last year same quarter Total Income of Rs 101.90 Crore. Company reported net profit after tax of Rs -52.54 Crore in latest quarter.


Investment Rationale
The stock is comfortably placed above the mean of Bollinger band on weekly chart affirming the overall bullish stance in the counter.