ICICI Securities has recommended a 'BUY' for Inox Wind with a target price of Rs 245. The stock is currently trading at Rs 204.30, showing a slight decline of 0.04%.

The recommendation is based on insights gained from the INOXGFL Group Vision Day held on December 2, 2024, where Inox Wind outlined its plans to expand into renewable power generation. The company aims to achieve a capacity of 3GW by FY27/FY28 and intends to diversify its operations by producing solar cells and modules. Additionally, Inox Wind will offer EPC and O&M services and provide hybrid renewable energy solutions to third-party commercial and industrial players. This strategic shift aims to establish Inox Wind as a comprehensive player in the renewable energy sector and contribute to India's energy transition efforts.