Shares of Inox Wind today rose as much as 5.9 per cent to near 1-1/2 month high as Motilal Oswal has started coverage with “buy’’ rating and fixed a target price of Rs 543.
The brokerage says wind power market is likely to expand to 4-5 GW per annum in the medium term, from 2.3 GW in FY15, aided by restoration of accelerated depreciation and generation-based incentives.
The Government has targeted to install 60 GW wind power capacity by 2022.