Meanwhile, the BSE Sensex was up 53.35 points, or 0.20%, to 26,568.59.

Shares of NTPC dropped 0.24% to Rs 165.05.

On the BSE, 33,916 shares were traded in Inox Wind's counter so far, compared with average daily volume of 67,908 shares in the past one quarter. The stock had hit a high of Rs 206.70 and a low of Rs 201.45 so far during the day. The stock had hit a 52-week high of Rs 378.40 on 23 December 2015. The stock had hit a 52-week low of Rs 161 on 6 September 2016.

The stock had outperformed the market over the past one month till 12 December 2016, rising 1.88% compared with the 1.13% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 13.47% as against Sensex's 6.48% decline.

The mid-cap company has equity capital of Rs 221.92 crore. Face value per share is Rs 10.

Inox Wind said that the project is to be deployed in Gujarat. The 50 megawatts maiden order marks NTPC's foray into wind energy generation. The move is part of NTPC's target of sourcing about 11% of its planned capacity of 128 gigawatts by 2032 from renewable energy.

The project is scheduled to be commissioned by Q1 June 2017 and will be executed on a turnkey basis.

On a consolidated basis, net profit of Inox Wind declined 39.9% to Rs 56.42 crore on 21.3% decline in net sales to Rs 797.67 crore in Q2 September 2016 over Q2 September 2015.

Inox Wind is a fully integrated player in the wind energy market with three manufacturing plants at Gujarat, Himachal Pradesh and Madhya Pradesh.