IREDA Share Price | Beneficial update on PSU IREDA company, buy or sell shares, experts advised – NSE: IREDA
IREDA Share Price | Indian Renewable Energy Development Agency Ltd stock declined despite positive updates on the company. This has increased the concern of investors. Indian Renewable Energy Agency has announced its third quarter financial results. In the information given to the stock market, the company said that Indian Renewable Energy Development Agency Company has registered a net profit of Rs 425.50 crore in the December quarter. Now experts have important advice on what investors should do.
Current Status of IREDA Stock
Shares of Indian Renewable Energy Development Agency Company were trading at Rs 211.75, down 2.01 percent on Friday, January 10, 2025. The IREDA share had a 52-week high of Rs 310, while the stock had a 52-week low of Rs 101.20. The total market cap of IREDA is Rs 57,048 crore.
There was a significant increase in the net profit of the company
In the information given to the stock market, IRDA said that the total net profit of Indian Renewable Energy Development Agency has increased by 27 percent on annual basis. Indian Renewable Energy Development Agency Company had earned a net profit of Rs 335.50 crore in the same quarter last year. The Indian Renewable Energy Development Agency company's revenue rose 35.60 percent to Rs 1,698.45 crore in the December quarter. IREDA's income in the same quarter last year was Rs 1,208.10 crore.
What is the expert's advice on IREDA shares?
Anshul Jain, stock market expert, Laxmishree Investment and Securities brokerage firm, said IREDA's strong financial performance is indicative of the company's positive strategy to take advantage of opportunities in the solar sector. This could make the stock profitable from a long term perspective. Stock market expert Sumit Bagadia said that IREDA share has strong support at Rs 200 on the technical chart. Bagadia said if the stock crosses Rs 230 level, the stock can go up to Rs 260 in the medium term.
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