Stock Performance: IREDA
IREDA, the Indian Renewable Energy Development Agency, is a Category I Mini Ratna Government of India Enterprise and plays a pivotal role in promotion, development, and financial assistance of renewable energy projects. It was established in 1987 and marked its entry on the National Stock Exchange (NSE) on November 29, 2023.
The IREDA stock has since made a stellar performance as its price increased by nearly 250% in a year’s time. While its opening price was Rs. 50, the company’s share is now Rs 217 as on December 13, 2024.
IREDA Stock Performance Overview
The company, listed on NSE, has witnessed a surge which reflects the market’s confidence in its potential. The total quantity traded stood at a significant 11,01,66,559 shares, with a deliverable quantity of 3,99,80,272 shares. The stock’s price reached an all-time high of Rs 284.26 on July 12, 2024, and has since touched a low of Rs 184.50 on November 22, 2024.
Recent Developments
- IREDA in October 2024 made an offer of finance assistance to Bhutan for renewable energy projects.
- IREDA has made a strategic collaboration with the Indian Overseas Bank (IOB) which opens avenues for co-lending and loan syndication for a diverse spectrum of renewable energy projects across the nation.
- IREDA has also partnered with leading financial institutions, including Bank of Baroda, Bank of India, Union Bank of India, India Infrastructure Finance Company Limited, and Bank of Maharashtra.
Disclaimer: This blog 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.