Shares of INOX India extended their strong winning run for the third consecutive session on Wednesday, climbing 5.61 per cent to hit a 52-week high of Rs 1,489.95. The stock eventually settled 3.90 per cent higher at Rs 1,465.85. With this, it has surged 19.60 per cent over the past three trading sessions.

Piper Serica's Abhay Agarwal, in an interaction with Business Today, said, "The West Asian conflict may have brought the theme into sharper focus, but this is a bet we had taken much earlier. Renewable energy, along with emerging avenues such as hydrogen, remains a key long-term opportunity. However, storing such gases is complex and requires specialised tanks — an area where Inox India has strong technical expertise."

He further added, "The company is a global player and supplies fuel tanks to organisations like SpaceX and ISRO, reflecting its technological expertise. One of its key initiatives has been working with the Indian government and large OEMs to develop LNG-enabled long-distance trucks."

Highlighting the growth potential, Agarwal said, "In China, nearly 20 lakh trucks run on LNG, whereas in India the number is only around 5,000. As this market expands, it is natural for Inox India -- currently the only supplier of fuel tanks for LNG trucks in the country -- to benefit. We remain positive on the company's future prospects."

Incorporated in 1976, INOX India provides end-to-end solutions across design, engineering, manufacturing, and installation of equipment and systems used in cryogenic conditions. The company primarily specialises in supplying cryogenic equipment, particularly storage tanks.

At last check, promoters held a 75 per cent stake in the company.