IREDA के शेयर ने ऑल-टाइम हाई बनाया: शेयर 6% चढ़कर ₹303.70 पर पहुंचा, आज पहली तिमाही के नतीजे जारी करेगी कंपनी

Shares of Indian Renewable Energy Development Agency Limited (IREDA) made a new all-time high today on July 12 (Friday). In early trade, the company’s stock rose nearly 6% to reach the level of Rs 303.70. However, now the company’s stock is trading at Rs 298.79 with a gain of 5.32%.

The company will also release the results of the first quarter (April-June) of the financial year 2024-25 today. Investors hope that the company will present better growth figures. The provisional business performance of the company has also been good.

The company’s stock gave a return of 62.48% in 1 month
In the last session, the company’s stock rose 17% to a high of Rs 289.33. After this, the company’s stock closed at Rs 278.95 with a rise of 12%. In the last 5 days, the company’s stock has given investors a return of 25.49% and in 1 month, a return of 62.48%.

The stock gained 167.86% in 6 months and 394.42% in one year
In the last 6 months, the company’s stock has risen by 167.86% and since the beginning of this year i.e. January 1, it has risen by 183.47%. In one year, the company’s stock has given a return of 394.42% to investors. The company’s market cap is Rs 80 thousand crores.

In its Q1FY25 business update shared late last month, IREDA had said it had sanctioned loans worth Rs 9,136 crore in the June quarter, up 382.62% over the same quarter last year (YoY).

The company’s loan disbursement for the quarter stood at Rs 5,320 crore, up 67.61% compared to the same quarter last year. The outstanding loan book stood at Rs 63,150 crore, up 33.77% from Rs 47,207 crore in the same quarter a year ago.

The stock has seen interest from foreign investors. Foreign portfolio investors (FPIs) increased their stake in the company to 2.7% in the quarter ended June 30, from 1.36% in the previous quarter. However, despite this growth, no major shareholder holds more than 1% stake.

The number of small shareholders of the company also saw an increase during the April-June period as the total number of shareholders holding shares worth less than Rs 2 lakh rose to 22.15 lakh from 21.23 lakh in the March quarter.

On the other hand, domestic mutual funds reduced their stake in the company as they booked profits after the stock hit a new high. As of June 30, mutual funds hold 0.24% stake in IREDA, down from half a percent at the end of March 2024.

After receiving the ‘Navratna’ status, IREDA’s stock has attracted the attention of investors. Apart from this, the company’s stock has seen this growth due to the government’s increasing focus on the renewable energy sector. IREDA is a major player in the renewable energy sector.

ICICI Direct said in a recent note, “We remain positive on the long-term growth prospects given the government’s focus on the renewable energy sector, which will aid long-term growth in assets under management (AUM). Hence, we maintain a buy rating on the stock.”

In the fourth quarter of the last financial year i.e. Q4FY24, IREDA recorded a net profit of Rs 337.37 crore, registering a year-on-year (YoY) growth of 33%. This quarter also saw the highest loan disbursement in the history of the company as its loan book grew to Rs 59,698 crore, an increase of 26.81% over the previous year.

The company had an all-time high annual loan sanction of Rs 37,353 crore and loan disbursement of Rs 25,089 crore in FY 2024. Annual loan sanction was 14.63% higher and loan disbursement was 15.94% higher as compared to last year.

IREDA went public in November last year, selling shares in its IPO at a price of Rs 32 per share. The stock had a great start, listing at a premium of 56.25% over the IPO issue price.