IREDA Stock Drops 32% from All-Time High; What’s Next?

After reaching its highest point, IREDA stock has been going down, hitting new lows every day. On February 6, the stock reached an all-time high of ₹214.80 per share. However, investors taking profits have caused the stock to drop by 32% since then.

The stock started trading on Indian exchanges on November 29 at ₹60 per share, higher than its initial price of ₹32. Within two weeks, it surged by an impressive 105.33%. Even with the recent drop, it’s still 358% above its IPO price of ₹32.


Rajesh Bhosale, a Technical Analyst at Angel One, mentioned, “The stock seems to be in a bearish trend, with the next significant level likely around ₹130, which is an important retracement level. If it goes below this, it could indicate more weakness.”

“On the flip side, if there’s a quick recovery in the short term, it might attract latecomers who bought at higher levels to sell. In that case, immediate resistance is expected around the 165–175 zone,” he added.

Recent News:

IREDA and Punjab National Bank have partnered by signing a Memorandum of Understanding (MoU) to boost renewable energy projects in the country.

The MoU includes various provisions to support renewable energy initiatives, such as joint lending, loan syndication, and underwriting. It also involves managing Trust and Retention Account (TRA) for IREDA borrowers and working towards competitive terms for sanction, including pricing on IREDA borrowings. Additionally, both IREDA and PNB can invest in each other’s bonds through this collaboration.

IREDA, established in 1987, is a non-banking financial company (NBFC) focusing on providing financing for renewable energy and environmental technologies. It is fully owned by the Government of India and operates under the Ministry of New and Renewable Energy.

In the recent December quarter, IREDA reported a 67.15% YoY rise in net profit, reaching ₹335.54 crore. The revenue from operations also increased by 44.22% YoY, reaching ₹1,252.85 crore, compared to ₹868.67 crore in the same quarter of the previous fiscal year.

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