IREDA Share Prices saw 2% growth on 21st February in the Stock Market. It’s one of the major players in India’s renewable energy sector. The company hit lower numbers and jumped back to 10%. As of 22nd February IREDA share price is Rs 176 this recovery amid a volatile market and global uncertainty could be a good sign for investors.
IREDA Share Price in Today’s Market
On 22nd February IREDA Share price is trading for Rs 176. It opened at Rs 173.60 on 21st Feb and closed at Rs 173.75. Yesterday it hit a high of Rs 187.70 and the lowest it dipped was Rs 172.80. But it’s still under a crucial Fibonacci retracement level of 38.2% which is Rs 202.23. This indicates resistance, if prices surpass this it could have a bullish trend.
Company Financials
The company has reported a strong growth in Q3. Net profit has grown by 26.8% year on year to Rs 425.4 Crore. Also, net interest income has reached Rs 622.3 Crore which is 39% higher. The current market capitalization of the company stands at Rs 47664 Crore. P/E rates are 12.98 and P/B is 5.11.
Recent News about IREDA
IREDA is planning to raise up to Rs 1500 crore through a 11 year bond issuance on 24th February. This will support future growth in the renewable energy segment. Not only this, on 28th February the company is going to introduce futures and options contracts to The National Stock Exchange to enhance market participation. A subsidiary company of IREDA had received approval for operating as a finance company in GIFT City which marks another milestone.
Recommendation of Buy or Sell
As the company’s recent reports show strong financials analysts share mixed recommendations. With the target price set to Rs 151.5 to Rs 294 within 2026. Trendyline suggest ‘HOLD’ for IREDA shares which reflects market volatility. Stock Market expert Kunal Parar also recommends holding IREDA shares with a target priceof Rs 264.25 and long-term target of Rs 485.
