Tag: IREDA stock price

IREDA Stock Price: On Tuesday, the Indian stock market closed with a decline. But in today's session, the stock of IREDA, a government NBFC company related to the renewable energy sector, made a great comeback from the lower level and the stock again reached above Rs 200. The reason is the report of brokerage house ICICI Direct in which it has advised investors to buy IREDA's stock. Due to this report, the stock turned from the lower level and reached Rs 209 with a jump of 8.40 percent from the level of Rs 192.80. At the end of trading, the stock closed at Rs 205.35 with a jump of 4.71 percent. ICICI Direct has advised investors to buy shares of IREDA (Indian Renewable Energy Development Agency). The brokerage house says that the stock can go up to Rs 250 with a jump of 28 percent in the next 12 months. The stock gained momentum after this report came out. IREDA's shares were listed in November 2023 after the IPO. The company raised money from the market at a share price of Rs 32. And the stock has jumped 541 percent from the IPO price. The stock has doubled in the year 2024. The stock has gained 37 percent in 3 months. IREDA provides financing for renewable energy projects. The Government of India holds a 72 percent stake in the company. According to ICICI Direct, the government wants to increase the renewable energy capacity to 500 gigawatts by the financial year 2029-30, which will require an investment of Rs 24.43 lakh crore, in which IREDA will play a major role. This year, the central government has launched the Pradhan Mantri Suryodaya Yojana with the target of installing rooftop solar on 1 crore houses, which can benefit IREDA. IREDA has created a retail division to provide loans for PM-KUSUM scheme, rooftop solar and other B2C sectors. Disclaimer: (The information provided here is for information purposes only. It is important to note here that investing in the market is subject to market risks. Always seek expert advice before investing as an investor. ABPLive.com It is never recommended to invest any money on behalf of anyone.) read this also Stock Market Update: Investments made in the stock market a day before the budget give negative returns! Study reveals Source link

Tag: IREDA stock price

IREDA Share Crosses 200 Rupees Mark After ICICI Direct Buy Call

Best Multibagger PSU Stock IREDA Share jumps 38 per cent in last 5 trading days