IREDA Share Price 13 May 2024 📈📉
🇮🇳📰 The Indian Government issued a statement on Thursday, revealing that IREDA has established a subsidiary company with full ownership in the International Financial Services Centre in GIFT City, Gujarat. The company’s name is IREDA Global Green Energy Finance IFSC Limited. (IREDA part)
🏢💼 According to a press release issued by the Ministry of New and Renewable Energy, the subsidiary company was officially established on May 7, 2024. The Reserve Bank of India issued a NOC to establish a financial company in IFSC GIFT City on February 8, 2024.
💰💹 On Friday, May 10, 2024, IREDA’s share price increased by 0.42% to close at ₹165.50. However, on Monday (May 13, 2024), the share was trading at ₹162, a decrease of 1.64%.
👨💼🗣️ IREDA’s Managing Director, Pradeep Kumar Das, stated that the presence of IREDA in GIFT City will boost the company’s new green financing activities. With the help of this subsidiary company, IREDA will be able to raise necessary funds to support the development of the renewable energy sector.
🌍🔋 The entry of IREDA into IFSC will open up new opportunities for the company, helping it establish its position in the global energy sector. The company’s net profit in the March quarter was ₹337 crores, a 33% increase compared to the same quarter last year.
📈💹 IREDA’s net interest income saw a 35% growth. The stock was listed on the stock exchange in November 2023 with an initial price of ₹32. In Thursday’s trading session, IREDA’s share closed at ₹165, a decrease of 3.57%.
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.
