Inox India Ltd Share Price: Inox India Ltd (NSE: INOXINDIA), a provider of cryogenic technology, on Monday, received its largest Order. Island Power Producers Ltd has been given the task of engineering, designing, and constructing an LNG mini terminal for power plant projects within the Bahamas.
After this disclosure, Inox India Ltd’s share rose 2% to Rs 1209 around 10 am. In the first quarter of this season, Inox India Ltd’s share has increased by more than 36 %. Now at 1 pm, it is trading at 1186 rupees and decreased 0.47 % from its opening price.
In the last year, it has given a return of about 27 percent. Its 52-week high is Rs 1506.90 and low is Rs 801.55.
Financial Details Not Disclosed
The contract consists of ten 1,500 cubic meters cryogenic storage tanks with vacuum insulation and a regasification device from Inox CVA.
In our research, Inox India said in an application to the regulatory markets that its project situated in Arawak Cay near the Nassau cruise terminal, was designed to help support the IPP’s 60 MW combined cycle power plant and to provide sustainable power to cruise vessels.
The financial information about the project has not been released. With an overall LNG storage of 15,000 cubic meters, this facility will be the world’s biggest installation of double-walled, shop-built vacuum-insulated cryogenic tanks. It is the ideal solution to generate energy and LNG distribution to remote areas.
Siddharth JAIN is the Promoter and Non-Executive Director of Inox India Limited. He said, “Our modular, high-capacity design will enable minimal site activity and rapid project implementation, with all main components being manufactured at our Kandla facility, which will promote India’s ‘Make in India’ initiative.”
It is the 3rd mini LNG terminal, and only the first of its type in the Caribbean of InoxCVA after the recent construction of a second terminal in Antigua.
Quick Fact
| Company name | Inox India |
|---|---|
| Sector | Cryogenic technology |
| Stock exchange ticker | NSE: INOXINDIA |
| Share rise (10 am) | 2% |
| Share price (10 am) | ₹1209 |
| current price (1 pm) | ₹1186 (-0.47%) |
| Q1 share increase | 36% |
| 52-week high | ₹1,506.90 |
| 52-week low | ₹801.55 |
| Last year return | 27% |
| Largest order received from | Island Power Producers |
| Project location | Arawak Cay, Bahamas |
| Nearby landmark | Nassau cruise terminal |
| Project purpose | LNG mini terminal construction |
| Power plant capacity | 60 MW |
| Total cryogenic tanks | 10 tanks |
| Tank capacity per unit | 1,500 cubic meters |
| Insulation type | Vacuum insulation |
| LNG regasification device | Included |
| Total LNG storage capacity | 15,000 cubic meters |
| Unique feature | Double-walled, shop-built cryogenic tanks |
| Primary objective | Sustainable energy & LNG distribution |
| Caribbean LNG terminals | 3rd terminal by Inox India |
| Caribbean location | 1st terminal in the Caribbean |
| Last terminal construction | Antigua |
| Production facility | Kandla, India |
| Promoter & Director | Siddharth Jain |
| Strategic initiative | Supports ‘Make in India’ |
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