IREDA shares gain ahead of Sept quarter earnings today
IREDA share price today: Market cap of the renewable energy stock rose to Rs 62,436 crore. IREDA shares saw a high turnover of Rs 17.13 crore as 7.33 lakh shares changed hands on BSE.
- Oct 10, 2024,
- Updated Oct 10, 2024 11:03 AM IST
Shares of Indian Renewable Energy Development Agency Ltd (IREDA) rose nearly 2% in early deals ahead of the firm's Q2 earnings set to be announced today. IREDA stock gained 1.94% to a high of Rs 235.65 against the previous close of Rs Rs 231.15 on BSE. Market cap of the renewable energy stock rose to Rs 62,436 crore. IREDA shares saw a high turnover of Rs 17.13 crore as 7.33 lakh shares changed hands on BSE.
In terms of technicals, relative strength index (RSI) of the stock stands at 50.8, signaling it's trading neither in the overbought nor in the oversold zone.
IREDA stock touched an all-time high of Rs 310 on July 15, 2024 and a 52 week low of Rs 49.99 on November 29, 2023.
In the first quarter of the current fiscal, IREDA's profit after tax (PAT) climbed 30 per cent to Rs 384 crore compared with Rs 295 crore in the corresponding quarter of last year.
Revenue from operations climbed 32 per cent YoY to Rs 1,510 crore from Rs 1,143 crore in the same quarter last year. IREDA said its outstanding loan book stood at Rs 63,207 crore in Q1 against Rs 47,207 crore in the year-ago quarter, up 34 per cent.
Gross non-performing assets stood at Rs 1,385 crore in the June quarter, which was 2.19 per cent in percentage terms. This was an improvement over 2.36 per cent in March and 3.08 per cent in the year-ago quarter. June was the fourth straight quarter of asset quality improvement for IREDA.
Domestic borrowings of IREDA stood at 84 per cent of total borrowings in Q1 against 75 per cent YoY. It raised a total Rs 5,373 crore in the quarter.
Shares of IREDA made their market debut at a premium of 56.25% to the issue price at Rs 50 on November 29 on BSE and NSE. The price band of IREDA's IPO was Rs 30-32 apiece with a lot size of 460 shares. The IPO was open for bidding from November 21 to November 23.
IREDA is a Mini Ratna (Category - I) government enterprise. It is administratively controlled by the Ministry of New and Renewable Energy (MNRE). IREDA has been actively promoting, developing, and extending financial assistance for new and renewable energy projects, as well as energy efficiency and conservation projects for over 36 years.
Shares of Indian Renewable Energy Development Agency Ltd (IREDA) rose nearly 2% in early deals ahead of the firm's Q2 earnings set to be announced today. IREDA stock gained 1.94% to a high of Rs 235.65 against the previous close of Rs Rs 231.15 on BSE. Market cap of the renewable energy stock rose to Rs 62,436 crore. IREDA shares saw a high turnover of Rs 17.13 crore as 7.33 lakh shares changed hands on BSE.
In terms of technicals, relative strength index (RSI) of the stock stands at 50.8, signaling it's trading neither in the overbought nor in the oversold zone.
IREDA stock touched an all-time high of Rs 310 on July 15, 2024 and a 52 week low of Rs 49.99 on November 29, 2023.
In the first quarter of the current fiscal, IREDA's profit after tax (PAT) climbed 30 per cent to Rs 384 crore compared with Rs 295 crore in the corresponding quarter of last year.
Revenue from operations climbed 32 per cent YoY to Rs 1,510 crore from Rs 1,143 crore in the same quarter last year. IREDA said its outstanding loan book stood at Rs 63,207 crore in Q1 against Rs 47,207 crore in the year-ago quarter, up 34 per cent.
Gross non-performing assets stood at Rs 1,385 crore in the June quarter, which was 2.19 per cent in percentage terms. This was an improvement over 2.36 per cent in March and 3.08 per cent in the year-ago quarter. June was the fourth straight quarter of asset quality improvement for IREDA.
Domestic borrowings of IREDA stood at 84 per cent of total borrowings in Q1 against 75 per cent YoY. It raised a total Rs 5,373 crore in the quarter.
Shares of IREDA made their market debut at a premium of 56.25% to the issue price at Rs 50 on November 29 on BSE and NSE. The price band of IREDA's IPO was Rs 30-32 apiece with a lot size of 460 shares. The IPO was open for bidding from November 21 to November 23.
IREDA is a Mini Ratna (Category - I) government enterprise. It is administratively controlled by the Ministry of New and Renewable Energy (MNRE). IREDA has been actively promoting, developing, and extending financial assistance for new and renewable energy projects, as well as energy efficiency and conservation projects for over 36 years.