Reliance Mutual Fund has picked 0.59% stake in Inox Wind, a wind power solutions provider, for Rs 533.38 million on Thursday. Reliance MF purchased 1.30 million shares at a price of Rs 410.29 a share.
Inox Wind made a strong debut on the bourses yesterday. On Thursday, the stock settled at Rs 438.40, a premium of 34.89% against the issue price of Rs 325.
Inox Wind is the part of the Gujarat Fluorochemicals involved in the manufacturing of the wind turbine generators and offering services like wind resource assessments, site acquisition, infrastructure development, erection and commissioning and also long term operations like maintenance of wind power project.Shares of the company gained Rs 10.80, or 2.47%, to trade at Rs 448.55. The total volume of shares traded was 938,241 at the BSE (11.22 a.m., Friday).