New Delhi, Aug. 19 -- Inox Wind share price rose by almost 5 per cent to Rs.147.86 apiece on Tuesday, August 19, after the company announced the sale of shares worth Rs.175 crore in its subsidiary, Inox Renewable Solutions Ltd., to investors at a valuation of Rs.7,400 crore.

Inox Wind shares have remained in red in short-term. The stock has descended over 13.59 per cent in a month and 15 per cent in six months.

Inox Renewable Solutions, earlier operating as Resco Global Wind Services Pvt Ltd, is engaged in executing EPC contracts within the renewable energy space. The company stated that the divestment is aimed at enhancing business efficiency and unlocking value.

The announcement follows Inox Wind's June-quarter earnings, where the co...