Why is INOX India share price skyrocketing? Here are the details

Current trend of INOX India shares:

INOX India shares have been going up since late January 2024 when they were at around ₹810 each.

Experts think it's a good idea to buy INOX India shares when their price drops a bit. So far this year, INOX India shares have jumped from about ₹880 to ₹1395 each on the NSE, which is almost a 60% increase.

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Expert opinion from Atul Parakh, CEO of Bigul:

INOX India has a good track record in making cryogenic storage and transport equipment. Demand for cryogenic equipment in India is expected to keep growing at a rate of 7.2% until 2028.

INOX India follows international standards in designing and making its equipment and is the largest exporter of cryogenic tanks from India.

Expectations for INOX India share price:

The global market for cryogenic equipment is growing at a rate of 6.9% and INOX India aims to be a leader in this market.

INOX India's share price has stabilized around ₹1350. Investors who already have INOX India shares should keep a close eye and sell if the price drops below ₹1350.

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Recommendations:

The stock might reach levels between ₹1460 to ₹1500 in the near future. New investors can buy INOX India shares now and continue buying more if the price drops, with a target of ₹1500, but they should be cautious and sell if the price falls below ₹1350.

We recommend investors to approach with experts before investing in any companies.