Inox India Ltd shares closed at ₹915 per share
Recently listed stock jumps 5% after it received patent from Govt of India
The shares of the leading cryogenic tank manufacturer gained 5% to an intraday high of ₹938 per share after receiving a patent from the Government of India.
On Wednesday, Inox India Ltd shares closed at ₹915 per share, up 2.22 percent from the previous close price on the National Stock Exchange. The company has a market capitalization of ₹ 8,307 crores.
In collaboration with the Institute for Plasma Research, Inox India Ltd received Patent Rights (No. 502670) for “Displacement Decoupling Arrangement For Piping Systems, from the Government of India.” as per the company’s exchange filing.
Additionally, on January 29, 2024, the company obtained two more patents, “A Method And An Apparatus For Dispensing LNG As Fuel” and “Sliding Spacer And Its Assembly To Support The Internal Cryogenic Process Pipe Cryoline,” from the Patents Office, Government of India.
Inox India Limited offers solutions across the design, engineering, manufacturing, and installation of equipment and systems for cryogenic conditions. Inox India specializes in supplying cryogenic equipment, particularly tanks. The company offers comprehensive solutions for equipment and systems operating in cryogenic conditions.
Some of the company’s major customers include Hyundai Engineering and Construction Company Ltd, IRM Energy Ltd,Saint Gobain India Private Ltd, Shell Energy India Private Ltd, and ISRO.
On December 21, 2024, Inox India shares debuted on the National Stock Exchange, commanding a 43% premium over the IPO price. The NSE opening witnessed the stock at Rs 949.65, surpassing the issue price of Rs 660.
The company’s revenue has increased by 23% year on year, from ₹783 crore in FY21-22 to ₹966 crore in FY22-23. During the same period, Net profit rose by 17% from ₹130 crores to ₹153 crores.
