New Delhi, Feb. 17 -- Inox Wind share price declined over 2% on Monday amid broader weakness in the Indian stock market. Inox Wind is an integrated wind energy player offering manufacturing of wind turbine generators (IWL) and EPC to O&M.

Brokerage firm JM Financial initiated coverage on Inox Wind shares with a 'Buy' rating, and a target price of Rs.212 apiece, based on FY27 earnings implying 24x P/E on FY27E. Inox Wind share price target implies an upside potential of more than 23% from Friday's closing price.

Since January 2023, 33 GW of hybrid project capacities have been awarded, which is estimated to result in WTG (wind turbine generators) demand of at least 20 GW versus 8-10 GW of WTG manufacturing capacity in the country.

With a...