Indian Renewable Energy Development Agency Ltd (IREDA)

IREDA Reports Growth and Attains Navratna Status - 30 Apr, 2024

Indian Renewable Energy Development Agency (IREDA) has attained Navratna status, reported exponential quarter-on-quarter growth, and is exploring options for overseas borrowing. Investors are advised to wait for a pullback in the stock's price before initiating long positions.

IREDA Shares Surge After Receiving Navratna Status - 29 Apr, 2024

Indian Renewable Energy Development Agency Limited (IREDA) received Navratna status, allowing it to invest up to Rs 1,000 crore without prior government approval. The state-run financier reported a robust net profit of Rs 337.38 crore for Q4FY24, marking an increase of 33% YoY. Additionally, IREDA's loan book grew 26.8% YoY to Rs 59,698.11 crore in Q4FY24.

IREDA Granted Navratna Status by DPE - 27 Apr, 2024

The Department of Public Enterprises has granted Navratna status to Indian Renewable Energy Development Agency, allowing them to invest up to ₹1,000 crore without central approval. IREDA's Q4 consolidated net profit rose 33% YoY to Rs 337 crore. The company's stock closed 2.2% higher on April 26 and has given over 63% return with a one-year return of 184%. Its Board approved setting up a subsidiary for retail business in RE and emerging sectors.

IREDA Granted Navratna Status; Reports Strong Q4 Earnings - 26 Apr, 2024

Indian Renewable Energy Development Agency (IREDA) has been granted Navratna status and reported a 32% YoY increase in Q4 net profit at Rs 337 crore. Assets under management grew 26.8% YoY to Rs 59,698 crore. IREDA shares closed 2.2% higher on April 26.

IREDA Participates in World Energy Congress - 23 Apr, 2024

Indian Renewable Energy Development Agency (IREDA) participated in the India Pavilion at the 26th World Energy Congress, showcasing the country's progress in the energy and power sector. CMD of IREDA provided insights into the company's recent financial results, initiatives, and expansion plans.

IREDA Shares Surge on Strong Financial Performance - 22 Apr, 2024

Indian Renewable Energy Development Agency (IREDA) shares surge following the company's strong Q4FY24 and FY24 financial performance, including an all-time high annual profit after tax of Rs 1252.23 crore and a loan book growth of 26.81%. IREDA also approved setting up a retail unit for renewable energy businesses.

IREDA Reports Strong Financial Results for FY24 - 20 Apr, 2024

Indian Renewable Energy Development Agency (IREDA) reported a strong financial performance in FY24 with an all-time high annual profit after tax (PAT) of Rs 1,252.23 crore, a growth of 44.83%. The company's loan book grew by 26.81%, and its net worth increased by 44.22% as compared to the previous year.

IREDA Reports Strong Financial Results and Plans to Expand Retail Business - 19 Apr, 2024

Indian Renewable Energy Development Agency (IREDA) reported strong financial results for Q4 FY24 with a 33% YoY increase in net profit and improved credit quality. The company also plans to expand its retail business into emerging sectors such as rooftop solar and other B2C segments.

IREDA Opens Specialized Office for Green Energy Financing - 18 Apr, 2024

Indian Renewable Energy Development Agency (IREDA) has opened a specialized office in GIFT City, Gandhinagar, to provide debt options denominated in foreign currencies for financing green hydrogen and renewable energy manufacturing projects.

Three Mutual Funds Exit IREDA Stock; Company Posts Strong Q3 Results - 15 Apr, 2024

Shares of Indian Renewable Energy Development Agency Ltd (IREDA) fell 8% after three domestic mutual funds exited the counter in March. However, IREDA posted strong Q3 results with a 67% rise in net profit to Rs. 335.54 crore. The company's outstanding loan amount also increased to Rs. 50,580 crores as of December 31, 2023.

IREDA Stock Rises 253% From Yearly Low - 06 Apr, 2024

Indian Renewable Energy Development Agency Ltd (IREDA) stock has risen 253% from its yearly low of Rs 49.99 touched on November 29 last year. The state-run green energy player's Q3 earnings show a 67% rise in net profit to Rs 335.54 crore YoY. Technical analysts suggest favorable buying opportunities with support at Rs 140.

IREDA Shares Surge After Record Loan Growth - 05 Apr, 2024

Indian Renewable Energy Development Agency (IREDA) shares surged this week after recording the highest-ever loan sanctions worth Rs 37,354 crore in FY24. The BSE revised the circuit filter limit for the state-run company to 20% from 5%. Technical analysts suggest potential to revisit all-time high level. Loans sanctioned surged 101.71% YoY to Rs 23,796 crore during March quarter.

IREDA Achieves Record Loan Sanctions, Shares Increase by 5% - 02 Apr, 2024

Indian Renewable Energy Development Agency (IREDA) achieved its highest-ever loan sanctions and disbursements during the financial year 2023-2024, resulting in a record surge of 26.71% to Rs 59650 crores in the Loan Book. IREDA's shares increased by 5% following this news.