Meanwhile, the BSE Sensex was down 6.09 points, or 0.02%, to 28,993.47

On BSE, so far 13,000 shares were traded in the counter, compared with an average volume of 22,119 shares in the past one quarter. The stock hit a high of Rs 553.40 and a low of Rs 540 so far during the day. The stock hit a 52-week high of Rs 666.65 on 27 July 2016. The stock hit a 52-week low of Rs 451 on 9 November 2016.

The mid-cap company has an equity capital of Rs 10.99 crore. Face value per share is Re 1.

Gujarat Fluorochemicals said that Inox Renewables (IRL), a wholly owned subsidiary of the company and Inox Renewables(Jaisalmer) (IRJL), a wholly-owned subsidiary of IRL, both a part of Inox Group, entered into definitive agreements for sale of substantially all of their operating wind farms to Leap Green Energy (LGE) and its subsidiaries, on a slump sale basis, for an undisclosed price. The transaction is subject to fulfillment of certain conditions precedent, and is expected to complete over the next few months, Gujarat Fluorochemicals said.

IRL (with its wholly owned subsidiary, IRJL) is one of the leading renewable energy companies in India and together they own operating wind farms in Rajasthan, Maharashtra, Madhya Pradesh and Tamil Nadu, that have a total capacity of 260 megawatts, the company said.

Deepak Asher, Director and Group Head (Corporate Finance) of the Inox Group of companies said that Inox Group has decided to exit wind farming business and focus on its core businesses, including that of wind turbine manufacturing.

On a consolidated basis, net profit of Gujarat Fluorochemicals declined 7.69% to Rs 73.38 crore on 16.79% rise in net sales to Rs 1790.21 crore in Q3 December 2016 over Q3 December 2015.

Gujarat Fluorochemicals (GFL) is the flagship company of Inox group. The company has evolved to being largest producer of chloromethanes, refrigerants and Polytetrafluroethylene in India.