Indian Renewable Energy Development Agency Limited or IREDA Share Price is on the news as the company has decided to raise R 30,800 crore. This has led investors getting more interested in the stock. How will it perform? What are the target price and recommendations? Let’s find out what analysts are suggesting.
IREDA Share Price in Today’s Market
As of today 29th March, IREDA Share price is at Rs 160.59 which is 0.66% lower. Yesterday shares opened at Rs 163.30 and touched a high of Rs 166.77. The current UC Limit for the share is at Rs 177.82 and LC Limit is at Rs 145.49. The total Market capitalization of the company stands around, Rs 43,162 Crore.
Company Financials
Currently, the company has a total market capitalization of Rs 43,162 Crore. In the last quarter, IRDEA reported a net profit of Rs 425.38 crore. That is a 27% increase in net sales compared to the same period last year. Also, total revenue from operations has increased by 35.6% and reached Rs 1698.45 crore. The company’s income from interest also grew by 39% to Rs 622.3 Crore.
Recent News about IREDA
- On 26th March IREDA board approved a borrowing plan of up to Rs 30,800 Crore for enhancing its financial capacity to support upcoming renewable energy projects.
- On 28th March, IREDA announced a Facility Agreement for raising JPY 26 billion via external commercial borrowing from SBI’s Tokyo Branch. This new facility is expected to optimize cost and strengthen IREDA’s presence globally.
IREDA Share Target Price
Analysts have multiple targets for IREDA Share Price. Geojit Financial Services set a target price of Rs 196, which is 15% higher than the current one. Also, some other analyst suggests IREDA Shares could get as high as Rs 192.74 to Rs 252.10 by the end of 2025.
Recommendation on Buy or Sell
As per current conditions, Analysts are giving a Buy recommendation for IREDA Shares. On moneycontrol, 67% of 3 analysts suggest Buy and 33% suggest Sell. On the other hand, Consensus also suggests a Buy for IREDA Shares.
