IREDA Share Price 📈💰
IREDA, the Indian Renewable Energy Development Agency, saw a significant increase in its share price on Thursday. The share price rose by 5% to reach ₹169.80. Market experts are optimistic about IREDA’s shares, predicting that they could reach ₹240 in the coming days. Over the past five days, IREDA’s shares have increased by 39%. On Thursday, the shares reached a new 52-week high, closing at ₹169.80, an increase of 4.98%.
Possibility of IREDA’s shares reaching ₹240 💹
Research analyst Vaibhav Kaushik from GCL Broking states that Prime Minister Modi’s announcement of the Suryodaya Yojana, right after the consecration of the Ram Mandir, has benefited IREDA. Under this scheme, 1 crore households will have solar panel systems installed, which will undoubtedly benefit IREDA. Kaushik believes that IREDA’s shares could touch ₹240 in the coming days. According to him, both the technical and fundamental aspects of IREDA’s shares are very strong. The company recently released its third-quarter results, showing a significant increase in profits. The shares could reach ₹190.
IREDA’s IPO and subsequent growth 📊
IREDA’s initial public offering (IPO) was opened on November 21, 2023, at a price of ₹32 per share. The IPO remained open until November 23, 2023. The shares were purchased at ₹32 during the IPO. On November 29, 2023, the shares were listed at ₹50. Since the listing, IREDA’s shares have witnessed a tremendous increase. On January 25, 2024, the shares reached ₹169.80. The share price is now more than 410% higher than the issue price of ₹32. The IPO was oversubscribed by a staggering 38.80 times. The retail investor quota was 7.73 times oversubscribed, while the non-institutional investor quota was oversubscribed by 24.16 times.
IREDA’s impressive growth and potential 📈💪
IREDA’s shares have shown remarkable growth since its IPO. With the government’s focus on renewable energy and the Suryodaya Yojana, IREDA is likely to continue its upward trajectory. Market experts believe that the company’s shares have the potential to reach ₹240. Investors are optimistic about IREDA’s future prospects, and the company’s strong financial performance further supports their confidence. As IREDA continues to contribute to India’s renewable energy sector, its share price is expected to soar.
So, keep an eye on IREDA’s shares as they continue to make waves in the market! 🌊💹
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
