Indian Renewable Energy Development Agency Limited (IREDA) | Latest Market Updates

Join us on an eye-opening exploration of IREDA, the Indian Renewable Energy Development Agency , in this comprehensive video guide! Get ready to:

  • Uncover the intricacies of IREDA’s business model, its role in India’s green energy revolution, and the impact it has on our planet.
  • Delve into the financial landscape that fuels IREDA’s operations, understand its funding mechanisms, and discover future growth potential.
  • Meet the key players who drive IREDA’s success, their vision for a sustainable future, and the challenges they face along the way.
  • Gain valuable insights for investors, entrepreneurs, and anyone passionate about renewable energy, leaving you empowered to make informed decisions and contribute to a greener tomorrow.

This is more than just a video; it’s an invitation to be part of the solution!

Heavy Buying Witnessed in This Mini Ratna Company Stock, Rallied Over 400%: Do You Hold It?

The company plays a vital role in providing finance to the critically important power infrastructure sector and recently debuted in the Indian market.

Shares of Indian Renewable Energy Development Agency Limited (IREDA) gained about 11% today. The stock has witnessed heavy buying activity from investors. Indian Renewable Energy Development Agency Limited has delivered multi-fold returns to its shareholders in less than one year. During this period, the company’s share price surged from Rs 60.00 on November 29, 2023, to Rs 174.00 on March 28, 2024, representing an increase of over 190% during the same period. An investment of Rs 1 lakh in this company’s shares one year ago would have grown to Rs 2.90 lakh today.

As the government’s financing arm for RE, IREDA is well-positioned to benefit from India’s push for clean energy. The company’s experience and diverse financial products cater to the entire RE project lifecycle. The company’s strong track record includes consistently high credit ratings and a decline in non-performing assets.

IREDA’s loan portfolio reflects India’s RE focus, with a majority in solar and wind energy. IREDA also supports upcoming areas like battery storage and electric vehicles. Furthermore, with a larger private sector share in their lending (79%), IREDA is well-placed to contribute to the overall growth of the Indian renewable energy sector.

Financial Performance

In Q3FY24, the company posted a 43.44% increase in its consolidated revenue at Rs 1236.16 crore compared to Rs 861.78 crore from the previous year’s corresponding quarter. The operating profit of the company stood at Rs 1154.32 crore, while the PAT of the company stood at Rs 335.54 crore, from Rs 200.75 crore last year same quarter.

Business Overview

Indian Renewable Energy Development Agency (IREDA) is a Mini Ratna government enterprise in the business of promoting, developing, and extending financial assistance for new and renewable energy (RE) projects, and energy efficiency and conservation (EEC) projects.

Stock Price Movement

Today, the stock opened at Rs 161.60, with a high and low of Rs 178.80 and Rs 161.10, respectively. The stock is currently trading at Rs 175.80, which increased by 11.02%. The stock has a 52-week high of Rs 215.00 and a 52-week low of Rs 49.99. The company has a ROCE of 8.17% and an ROE of 15.4%, with a market capitalization of Rs 47,264 crore.

The stock has shown impressive growth, and investors should keep a close eye on this stock.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.