IREDA Share Price | Share price increased from Rs 32 to Rs 214, now the stock is in focus again – NSE: IREDA
IREDA Share Price | On Thursday, IREDA shares were trading at Rs 214.26, down 4.08 per cent. IREDA shares were trading with gains in the morning, but fell again after negative signals from the stock market.
IREDA company gave important update
The important update was the reason for the morning rally. In an update to the stock exchange, IREDA said Indian Renewable Energy Development Limited has achieved 'Excellent' rating for the fourth consecutive year in terms of MoU performance. IREDA will also release the results for the October-December quarter. On Friday (January 10, 2025), the stock was trading at Rs 210, down 2.73%.
IREDA announces business update
In the business update on January 1, IREDA had said that the total credit of Indian Renewable Energy Development Limited Company increased by 41 percent to Rs 17,236 crore in the December quarter. According to the data released by the company, IREDA approved a total loan of Rs 31,087 crore in the third quarter i.e. September-December period, which is 129 percent more than Rs 13,558 crore in the same period last year. Interestingly, there has also been a significant increase in the disbursement of loans from IREDA. This is 41 percent more than Rs 12,220 crore in the same quarter last year. The total disbursement of loans has reached Rs 17,236 crore. Also, the outstanding loan book increased by 36 percent to Rs 69,000 crore from last year's Rs 50,580 crore.
Company IPO share price was Rs 32
In the last one year, shares of Indian Renewable Energy Development Limited Company have given 115 percent return. IREDA share price has increased from Rs 103 to Rs 218.49 during the year. IREDA's IPO was launched in November 2023. At that time IREDA had fixed 32 share price bands. IREDA stock is up nearly 610 percent since its IPO price.
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