New Delhi, Aug. 15 -- Nuvama Institutional Equities has reaffirmed its 'Buy' rating on Inox Wind, a leading wind energy player and peer of Suzlon Energy, while lowering the 12-month target price from Rs.236 to Rs.190 per share. The revised target still implies a potential upside of 38.68 percent from Inox Wind's closing price of Rs.137 on Thursday.

According to Nuvama, the multibagger stock delivered modest Q1 FY26 execution of 146 MW, slightly below the consensus estimate of around 180 MW. Revenue for the quarter stood at Rs.830 crore, while a higher operating margin of 22.2 percent, driven by a product-heavy mix, resulted in a 7 percent beat on consensus EBITDA. Adjusted PAT came in at Rs.110 crore, 11 percent ahead of estimates, despi...