Introduction:
A leading player in the energy sector has secured its largest contract to date, tasked with constructing a mini LNG terminal in The Bahamas. The facility will support a power plant and provide sustainable energy for cruise ships, marking a significant milestone in LNG solutions for remote areas.
Share Price movement of the stock Inox India:
Following the announcement of securing its largest order for a mini LNG terminal in The Bahamas, shares of Inox India saw a modest increase. The stock was trading 0.67% higher at ₹1,191.15, reflecting positive investor sentiment amidst the company’s significant growth this year.
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Inox India has won Their Biggest Order:
Inox India has won its biggest order to date, tasked with constructing a mini LNG terminal in The Bahamas for Island Power Producers Ltd. This facility will support a 60 MW power plant and provide sustainable energy for local cruise ships.
The project will feature ten 1,500 cubic metre cryogenic tanks and a regasification system, making it the world’s largest installation of such tanks. The design facilitates LNG distribution to meet diverse energy needs across The Bahamas and other remote areas.
This landmark project not only marks INOXCVA’s third mini LNG terminal but also highlights its expansion in the Caribbean. It underscores the increasing global shift towards LNG solutions for remote locations. Shares of INOX India saw a slight increase following this announcement, reflecting positive investor sentiment.
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Recent News:
INOX India reported a 10% increase in its consolidated profit after tax, reaching ₹50.1 crore in the September 2024 quarter, driven by higher revenue. In comparison, the company had posted a profit of ₹45.5 crore during the same period last year, reflecting strong financial performance and growth for the quarter.
Stock performance of Inox India- 1 week, 6 months:
Inox India’s stock has shown mixed performance recently, with a 6.06% gain over the past week. However, over the last six months, the stock has experienced a decline of 10.1%. Over the past year, it has gained 35.6%, reflecting significant long-term growth despite recent fluctuations.
Shareholding pattern of Inox India:
| All values in % | Sep-24 | Jun-24 | Mar-24 |
| Promoters | 75 | 75 | 75 |
| FIIinsight-icon | 5.84 | 6.38 | 6.14 |
| DII | 7.15 | 6.74 | 6.59 |
| Retail & others | 12.01 | 11.87 | 12.27 |
About the company:
Inox India specialises in cryogenic technology, providing innovative solutions for gas storage and distribution. Known for engineering and supplying cryogenic tanks and regasification systems, the company plays a pivotal role in global LNG infrastructure, including projects for remote and island regions.
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