The Exchange has sought clarification from Inox Green Energy Services Limited with respect to recent news item captioned Indias Inox Green loses grid access for 300 MW wind project as regulator backs revocation. The response from the Company is attached.
INOXGREEN · price
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On the reaction day the stock moved 0.6 pts less than Nifty Microcap 250 and 0.7 pts less than its Diversified Commercial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The stock exchange asked Inox Green Energy Services to clarify a news report that said the company lost grid access for its 300 MW wind project after a regulator backed revocation of connectivity. The company has submitted its response to the exchange. The matter relates to an adverse regulatory order concerning one of its wind power projects. The clarification is part of the exchange's standard process when a potentially price-sensitive news item appears in the media. Investors would need to see the company's full response to understand the likely impact on the project's revenue and operations.
Negative for sentiment in the short term as the news signals regulatory trouble for a key 300 MW project; the company's official response will determine whether the stock stabilises or faces further downside.