Shares of Inox India Ltd fell 2% after touching a day’s high of Rs 917.60 on 24th February, despite the company becoming the first cryogenic equipment manufacturer in India to receive the prestigious IATF 16949 certification for cryogenic fuel tank manufacturing.
Issued by Bureau Veritas Certification, the IATF 16949 certification validates quality management standards for automotive OEM suppliers.
INOX India sees rising global demand for greener transport fuels and believes its LNG fuel tanks can cater to this shift.
The certification was awarded after a comprehensive audit of INOX India’s Kalol facility in Panchmahal, Gujarat, covering the entire design and manufacturing process without exclusions, underscoring the company’s expertise in cryogenic fuel tank production.
Currently, the company’s market capitalisation stands at around Rs 8,203 crore.
At 2:38 PM, the shares of Inox India were trading 1.25% lower at Rs 904.45 on NSE.
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