INOX Wind shares hit 20% upper circuit limit
It is the country's largest industrial gasses manufacturer with an installed capacity of 3,330 tonnes per day
Shares of Inox Wind, whose group company INOX Air Products is supplying medical oxygen to various parts of the country, hit an upper circuit on Thursday amid rising demand of the gas. The scrip jumped 20% to Rs 85.80, while the benchmark BSE Sensex closed 374.87 points, or 0.79%, higher at 48,080.
Inox Air Products is the industrial and medical gases business division of the diversified Inox Group. It began as industrial Oxygen Company in Pune in 1963, in 1999, Air Products & Chemicals Inc of the US acquired 50% stake in the company and renamed it as Inox Air Products.
It is the country’s largest industrial gasses manufacturer with an installed capacity of 3,330 tonnes per day (TPD) which will go up to 4,800 TPD by 2024 on completion of these new units.
The Inox group, besides Inox Wind and Inox Air Products, includes Gujarat Fluorochemicals, Inox India Limited, Inox Renewables Limited, and Inox Leisure Limited. Shares of Gujarat Fluorochemicals gained 3.26% to Rs 727.50, while Inox Leisure settled 0.86% up at Rs 268.35.