Why is INOX India share price skyrocketing?

(20 second reading) INOX India shares have been in an uptrend since they bottomed out at around Rs.810 apiece at the beginning of the last week of January 2024. After that, INOX India share price has remained an idea ‘buy-on-dips’ stock for positional investors. In YTD time, INOX India share price has surged from nearly Rs.880 to Rs.1395 apiece on NSE, logging almost 60 percent rise in 2024. According to stock market experts, the company is in the business of cryogenic storage, which has demand in various sectors like chemical, healthcare, oil and gas, etc. Cryogenic equipment in India is projected to grow at a CAGR of 7.2 percent. INOx India shares may continue the bull trend and touch the Rs.1500 mark in the short term.