Inox Green Energy shares zoom 38% in a month: What analysts say

Shares of Inox Green Energy Services Ltd jumped 4.95 per cent on Thursday to settle at Rs 205.80. At this closing level, the stock has rallied 38.31 per cent over the past month and 64.18 per cent in the last six months.

The counter recorded high trading volume on BSE as around 3.70 lakh shares changed hands today. The figure was higher than the two-week average volume of 2.41 lakh shares. Turnover on the counter came at Rs 7.60 crore, commanding a market capitalisation (m-cap) of Rs 7,542.20 crore.

Technically, an analyst said Inox Green Energy has climbed past Rs 185, with support at that level and resistance at Rs 220-225. Another noted it’s bullish but overbought, warning of a drop to Rs 168 if it falls below Rs 198. A third said support lies at Rs 190, resistance at Rs 210 and a rise above Rs 210 could push it toward Rs 224.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, “Inox Green Energy has witnessed a breakout from Rs 185-odd level and has been in positive terrain with overbought parameters. This breakout zone is anticipated to provide support against any short-term fluctuations. Additionally, the next potential resistance is projected within Rs 220-225 levels in the near term.”

Sebi-registered analyst AR Ramachandran noted, “Inox Green stock price is bullish but overbought on daily charts with next resistance at Rs 213. Investors should be booking profits as a daily close below the support of Rs 198 could trigger a drop towards Rs 168 in the near term.”

Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, observed support lies at Rs 190 and resistance at Rs 210. “A breakout above Rs 210 may lead to Rs 224, with the short-term trading range expected between Rs 190 and Rs 224,” Patel added.

As of June 2025, promoters held a 55.97 per cent stake in the renewable energy company.