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Indian Renewable Energy Development Agency Ltd (IREDA)

₹257.45.4%

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Overview
News
Financials
Q1 2024 Results
Technicals

Analyst Rating

based on 2 analysts

HOLD

50.00%

Buy

0.00%

Hold

50.00%

Sell

Based on 2 analysts offering long term price targets for Indian Renewable Energy Development Agency Ltd. An average target of ₹180

Source: S&P Global Market Intelligence

Indian Renewable Energy Development Agency Ltd Share analysis

Source: S&P Global Market Intelligence

Performance

  • Day's Low

    Day's High

    ₹252
    ₹267.39
  • 52 Week's Low

    52 Week's High

    ₹50
    ₹310
1 Month Return+ 52.83 %
3 Month Return+ 66.77 %
1 Year Return+ 353.47 %
Previous Close₹272.08
Open₹267.39
Volume8.91Cr
Upper Circuit-
Lower Circuit-
Market Cap₹73,128.70Cr

Key Statistics

P/E Ratio0
PEG Ratio0
Market Cap₹73,128.70 Cr
P/B Ratio4.27
EPS0

Mutual Fund Holdings

Funds HoldingsPrev. 6M
HDFC Multi Cap Fund Direct GrowthHDFC Multi Cap Fund Direct Growth0.33%
Baroda BNP Paribas Mid Cap Fund Direct Plan Growth OptionBaroda BNP Paribas Mid Cap Fund Direct Plan Growth Option1%
Baroda BNP Paribas Value Fund Direct GrowthBaroda BNP Paribas Value Fund Direct Growth1.1%
Baroda BNP Paribas Small Cap Fund Direct GrowthBaroda BNP Paribas Small Cap Fund Direct Growth1.04%
ITI Mid Cap Fund Direct GrowthITI Mid Cap Fund Direct Growth0.9%

Company Information

Indian Renewable Energy Development Agency Limited IREDA was incorporated on March 11 1987 as a public limited company and has obtained certificate of commencement of business dated March 21 1987. The Company was notified as a public financial institution on October 17 1995 by the Department of Company Affairs Ministry of Finance GoI. Further the Reserve Bank of India granted a certificate of registration to the Company on January 23 2008 permitting to carry on the business of NonBanking Financial Company without accepting public deposits. IREDA is a domestic financial institution with more than 30 years of experience in the Indian renewable energy sector. The Company provides financial assistance to renewable energy projects companies and manufacturers in India for power generation equipment supply and fuel source projects including wind power solar power hydro power biomass cogeneration and waste to energy as well as energy efficiency and conservation. The Company provides comprehensive suite of financial products and services includes various fundbased financial products including longterm and shortterm project and manufacturing loans take out financing bridge loans and bill discounting and nonfund based assistance like performance guarantees letters of comfort letters of undertaking and refinancing schemes. IREDA is currently a 100 Government of India GoI owned enterprise under the administrative control of the Ministry of New and Renewable Energy the MNRE. The Company is a Public Financial Institution a PFI under section 272 of the Companies Act 2013 and is registered as a nonbanking financial company a NBFC with the Reserve Bank of India the RBI. The Company believes that its classification as a PFI enhances its ability to raise funds on a costcompetitive basis including through the issuance of various types of bonds that offer certain tax benefits to the bondholders. The company also was conferred with the Mini Ratna Category 1 status in June 2015 by the Department of Public Enterprises. The Company was established as an integral part of and have played a strategic role in the GoIs initiatives for the promotion and development of the renewable energy sector in India. It has been involved in the development and implementation of various policies and structural and procedural reforms in the renewable energy sector. Under the IREDANCEF Refinancing Scheme the company utilizes funds received from the National Clean Energy Fund NCEF to refinance renewable energy projects for biomass up to 10MW and small hydro up to 5MW. We have also been involved in various GoI programs for the development of renewable energy sector including the Wind GBI Scheme the Solar GBI Scheme and the Solar Water Heating System Capital Subsidy Scheme. The Companys primary sources of funds include domestic and foreign borrowings internal resources and Government of India guarantees and support. In September 2017 the company issued Rs. 19500 million of green rupeedenominated bonds in the international markets with proceeds received on October 10 2017. In March 2017 the company issued Rs. 7000 million of green energy bonds in the domestic market. Both issues were in accordance with its Green Bond Framework which meets requirements of the Climate Bonds Standard Version 2.0 issued by the Climate Bond Initiative Green Bonds and also adheres to the Green Bond Principles 2015 issued by the International Capital Markets Association ICMA. The international funding sources also includes loans from the World Bank the Asian Development Bank Kreditanstant fur Wiederaufbau Japan International Cooperation Agency European Investment Bank Agence Francaise Development and Nordic Investment Bank. In addition to the financial products and services the company has also set up its own 50 MW Solar Photovoltaic Project in 200 MW Kasaragod Solar Park in the state of Kerala on which it has spent Rs. 2939.85 million through September 30 2017. The project was commissioned in September 2017 and has begun generating power which is being injected into the Kerala State Electricity Board grid. The project began generating revenue in September 2017..

Share Price: ₹257.40 per share as on 18 Jul, 2024 04:01 PM
Market Capitalisation: ₹73,128.70Cr as of today
Listing date: 29 Nov, 2023
Chairperson Name: Pradeep Kumar Das
OrganisationIndian Renewable Energy Development Agency Ltd
HeadquartersNew Delhi
IndustryFinance
E-voting on sharesClick here to vote

What's happening today

  • img

    Today's Timeline - Invalid Date

    07:00 AM

    -

    IREDA board approves Rs 290 crore investment with SJVN in a hydroelectric power project in Nepal.

    10:46 AM

    -

    IREDA shares fall nearly 20% from their peak of Rs. 310, decline on significant volumes and sell rating by PhillipCapital.

Key events for Indian Renewable Energy Development Agency Ltd

  • IREDA Shares Fall Nearly 20% - 18 Jul, 2024

    Shares of Indian Renewable Energy Development Agency Ltd (IREDA) fell nearly 20% from their peak of Rs. 310 amid profit-booking and sell rating by PhillipCapital. IREDA's Relative Strength Index slipped below the overbought zone of 70, while trading higher than moving averages. The company approved a Rs 290 crore investment with SJVN in a hydroelectric power project in Nepal.

  • IREDA Shares Decline Despite Approval of Equity Investment - 17 Jul, 2024

    Indian Renewable Energy Development Agency Ltd (IREDA) has received approval for a Rs 290 crore equity investment in special purpose vehicles with SJVN to establish a hydro-electric project in Nepal. However, despite this positive news, IREDA's shares declined by 6.06% on July 16th.

  • IREDA Faces Selling Pressure After Sell Recommendation From Brokerage Firm - 16 Jul, 2024

    Indian Renewable Energy Development Agency Limited (IREDA) faces selling pressure after Phillip Capital predicted a major correction and gave a sell tag to IREDA shares. Despite strong Q1 FY25 results, IREDA has seen some profit-booking due to the recent surge in stock prices. However, IREDA's Board approved an equity investment of up to 10% shareholding in GMR Upper Karnali Hydro Power Ltd and Karnali Transmission Company Pvt Ltd to set up a 900 MW Hydroelectric Power Project in Nepal.

  • IREDA Reports Strong Q1 Results and Improved Asset Quality - 15 Jul, 2024

    Indian Renewable Energy Development Agency (IREDA) reported a Q1 net profit of Rs 384 crore, up 30% YoY. Phillip Capital maintained a 'sell' rating on the stock despite expecting strong loan growth, citing pressure on margins. IREDA's asset quality improved with gross NPA reducing to 2.19%, while total loan book outstanding increased by 33.77% YoY.

  • IREDA Reports Strong Q1 Results, Share Price Rallies - 13 Jul, 2024

    Indian Renewable Energy Development Agency Ltd (IREDA) reported strong Q1 results with a 30% YoY rise in PAT and a 32% rise in operational revenue. Experts predict a sharp upside move in the IREDA share price in the near term, with a target of ₹350 per share.

  • IREDA Stock Continues Record Run After Strong Q1 Results - 12 Jul, 2024

    Indian Renewable Energy Development Agency Ltd (IREDA) saw its stock price reach an all-time high after reporting strong Q1FY25 results, including a net profit surge of over 30%. The company's loan sanctions and disbursements also increased significantly YoY, while foreign portfolio investors doubled their stake in the firm during the quarter.

  • IREDA Shares Surge on Foreign Portfolio Investment and Record Highs - 11 Jul, 2024

    Indian Renewable Energy Development Agency (IREDA) shares surged up to 17% after foreign portfolio investors doubled their stake in the company. The stock has also hit record highs with a YTD return of 174.10%. Domestic mutual funds have reduced their stake while IREDA management seeks permission for a Follow-on Public Offer.

  • IREDA Shares Hit Record High Despite Intraday Dip - 09 Jul, 2024

    Indian Renewable Energy Development Agency (IREDA) shares reached a new all-time high of Rs 254 before falling 10% to Rs 228. However, analysts remain bullish on the stock due to strong loan sanctions and disbursements in Q1 FY25, with target prices ranging from Rs 275-310.

  • IREDA Stock Hits Record High, Up Over 135% This Year - 08 Jul, 2024

    Shares of Indian Renewable Energy Development Agency Ltd. (IREDA) hit a record high of ₹248.85, up over 135% this year. Independent Market Analyst Sarvendra Srivastava recommends holding the stock and adding stop loss below ₹200 level for moderate risk-takers and at ₹214 for those with an aggressive investment approach. A block deal worth ₹100 crore took place in IREDA towards the close of trade on Monday. The stock is trading higher than all moving averages and has entered the overbought zone.

  • IREDA Reports Strong Q4 Results Amidst High P/E Ratio - 05 Jul, 2024

    Indian Renewable Energy Development Agency (IREDA) reports strong Q4 results with a net profit of ₹337.37 crore and a 26.81% YoY growth in its loan book. However, the stock's P/E ratio remains high despite fairly limited recent growth rates.

  • IREDA Requests Government Approval for Follow-On Public Offer - 04 Jul, 2024

    Indian Renewable Energy Development Agency (IREDA) has requested government approval to carry out a follow-on public offer (FPO) to raise between Rs 4,000 crore and Rs 5,000 crore. However, IREDA's high valuation may limit further stock upside.

  • IREDA Stock Hits Record High Amid Heavy Volumes - 03 Jul, 2024

    Indian Renewable Energy Development Agency Ltd (IREDA) stock hit a record high of Rs 218.80 per share and saw a surge in trading volume. The company also reported significant YoY growth in loan sanctions and applied for lower borrowing costs under the Income Tax Act.

  • IREDA Shares Recover After Block Deal; Company Seeks FPO Approval - 02 Jul, 2024

    Indian Renewable Energy Development Agency Ltd (IREDA) shares recovered over 6% after a block deal of 50 lakh shares worth Rs 100 crore. IREDA seeks approval for an FPO to raise between Rs 4,000-5,000 crore and inclusion under Section 54EC of the Income Tax Act to reduce borrowing costs.

  • IREDA Records Strong Growth in Loan Sanctions and Disbursements - 01 Jul, 2024

    Indian Renewable Energy Development Agency (IREDA) reports substantial YoY growth in loan sanctions and disbursements for Q1 FY25, with the loan book standing at Rs 63,150 crore. The company aims to increase annual disbursements more than fivefold by FY30.

  • IREDA Shares May Rally to Rs 250 After Surge - 27 Jun, 2024

    Technical analyst Rajesh Satpute predicts that Indian Renewable Energy Development Agency (IREDA) shares may reach Rs 250 within the next year, following a surge of 540% from IPO price. IREDA's profit rose by 33% YoY to Rs 337 crore in Q4 FY24, with its market capitalization rising to Rs 52,761 crore.

  • Union Budget May Boost IREDA Shares - 26 Jun, 2024

    IREDA shares surge up to 7.7% on reports that the upcoming Union Budget may introduce provisions to secure cheaper funds for the company, aligning with government goals of promoting renewable energy production and affordable housing.

  • IREDA Raises Funds Through Oversubscribed Bond Issue - 24 Jun, 2024

    Indian Renewable Energy Development Agency (IREDA) raised Rs 1,500 crore through a bond issue that was oversubscribed by 2.65 times. The credit rating agency Care Ratings upgraded IREDA's ratings on Non-Convertible Debenture (NCD) issues from CARE AA+; Positive to CARE AAA; Stable.

  • IREDA Shares Surge After Inclusion in FTSE All World Index - 21 Jun, 2024

    Indian Renewable Energy Development Agency Ltd's stock saw a surge in price following its inclusion in the FTSE All World Index. Additionally, CARE Ratings upgraded IREDAs ratings on Bonds/NCDs from CARE AA+; Positive to CARE AAA; Stable. The company also raised ₹1,500 crore through bond issuance and is planning an FPO for lending to green energy projects.

  • IREDA Stock Gains 254% from Listing Price - 20 Jun, 2024

    Shares of Indian Renewable Energy Development Agency (IREDA) have gained 254% from their listing price. The stock is currently trading in a broad range of Rs 155- Rs 195 with no clear direction, but technical analysts project potential for further upward movement with projected price targets set at Rs 215. IREDA presents a promising buying opportunity for those targeting a Rs 215 price objective, contingent upon implementing prudent risk management measures.

  • IREDA and Bank of Maharashtra to Raise up to Rs 2,500 Crore Through Bonds - 19 Jun, 2024

    IREDA plans to raise up to Rs 1,500 crore, including a greenshoe option of Rs 1,000 crore, while Bank of Maharashtra will issue Basel-III compliant tier II bonds. IREDA's bonds are rated AAA with Stable outlook by India Ratings and ICRA.

Insights on Indian Renewable Energy Development Agency Ltd

Insights help you understand the recent movement of the company's critical parameters, giving you an overall view of the company.

  • imgPOSITIVE IMPACT

    Price Rise

    img

    In the last 7 days, IREDA stock has moved up by 16.4%

  • imgPOSITIVE IMPACT

    Retail Holding Up

    img

    Retail Investor have increased holdings from 12.52% to 18.75% in Dec 2023 quarter

  • imgNO EFFECT

    Promoter Holding Unchanged

    img

    Promoters holdings remained unchanged at 75.00% of holdings in Dec 2023 quarter

  • imgNEGATIVE IMPACT

    FII Holding Down

    img

    Foreign Institutions have decreased holdings from 3.95% to 1.88% in Dec 2023 quarter

  • imgNEGATIVE IMPACT

    MF Holding Down

    img

    Mutual Funds have decreased holdings from 3.94% to 2.87% in Dec 2023 quarter

Company Financials

Value in ₹ crore
2024Y/Y Change
Total Assets
₹62,760.94Cr
↑23.98%
Total Liabilities
₹54,201.52Cr
↑21.29%
Value in ₹ crore
2024Y/Y Change
Operating Cash Flow
-₹11,099.64Cr
↓10.07%

Shareholding Pattern

InvestorsHoldings %FY Quarter3M change
Promoter Holdings
75%
0.00
Foreign Institutions
2.7%
98.12
Mutual Funds
0.24%
-55.42
Retail Investors
21.88%
-3.57
Others
0.18%
-55.94

Key Indicators

Earnings and Dividends

  • Indian Renewable Energy Development Agency Ltd Earnings Results

    Indian Renewable Energy Development Agency Ltd’s net profit jumped 30.25% since last year same period to ₹383.69Cr in the Q1 2024-2025. On a quarterly growth basis, Indian Renewable Energy Development Agency Ltd has generated 13.73% jump in its net profits since last 3-months.

    Read More about Earnings Results

Technicals Summary

Bearish

Neutral

Bullish

Bullish

Indian Renewable Energy Development Agency Ltd is currently in a Bullish trading position according to technical analysis indicators.

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Indian Renewable Energy Development Agency Ltd (IREDA) share price today is ₹257.4

Indian Renewable Energy Development Agency Ltd is listed on NSE

Indian Renewable Energy Development Agency Ltd is listed on BSE

  • Today’s highest price of Indian Renewable Energy Development Agency Ltd is ₹267.39.
  • Today’s lowest price of Indian Renewable Energy Development Agency Ltd is ₹252.

Today’s traded volume of Indian Renewable Energy Development Agency Ltd(IREDA) is 8.91Cr.

Today’s market capitalisation of Indian Renewable Energy Development Agency Ltd(IREDA) is ₹73128.7Cr.

Indian Renewable Energy Development Agency Ltd(IREDAPrice
52 Week High
₹310
52 Week Low
₹50

Indian Renewable Energy Development Agency Ltd(IREDA) share price is ₹257.4. It is down -16.97% from its 52 Week High price of ₹310

Indian Renewable Energy Development Agency Ltd(IREDA) share price is ₹257.4. It is up 414.80% from its 52 Week Low price of ₹50

Indian Renewable Energy Development Agency Ltd(IREDAReturns
1 Day Returns
-14.68%
1 Month Returns
52.83%
3 Month Returns
66.77%
1 Year Returns
353.47%