IREDA shares climb 2%, snapping 4-session fall; trend still cautious or reversal sign?
Last month, IREDA's wholly-owned subsidiary, IREDA Global Green Energy Finance IFSC Ltd, sanctioned its first overseas loan of $22.5 million to Swarna Solar Ltd (SSL) for the development of a 100 MW photovoltaic solar power plant in Zambia’s Central Province.
- Feb 3, 2026,
- Updated Feb 3, 2026 5:41 PM IST
Shares of Indian Renewable Energy Development Agency Ltd (IREDA) rose 1.62 per cent on Tuesday to close at Rs 129.50, snapping a four-session losing streak. Despite the uptick, the stock remains 34.06 per cent below its 52-week high of Rs 196.40, touched on February 5 last year.
Last month, IREDA's wholly-owned subsidiary, IREDA Global Green Energy Finance IFSC Ltd, sanctioned its first overseas loan of $22.5 million to Swarna Solar Ltd (SSL) for the development of a 100 MW photovoltaic solar power plant in Zambia’s Central Province.
On the financial front, the Navratna PSU reported a strong set of numbers for the quarter ended December 31, 2025 (Q3 FY26). Net profit rose 37.5 per cent year-on-year (YoY) to Rs 584.9 crore, compared with Rs 425.4 crore in the corresponding quarter of the previous fiscal.
Revenue from operations for the quarter climbed 25 per cent to Rs 2,130 crore from Rs 1,698 crore a year ago. Net interest income (NII) grew 34.8 per cent YoY to Rs 897.5 crore, up from Rs 665.8 crore in the year-ago period.
However, some analysts remain largely cautious on the stock's near-term technical outlook. One of the analysts pointed out that a decisive move above Rs 135 could help restore buying interest, while another suggested the stock would need to reclaim the Rs 155 level to indicate any trend reversal.
Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, "IREDA has demonstrated a failed attempt to recover in recent times and has subsequently decreased, encountering resistance at the 21-day exponential moving average (DEMA). The technical parameters align with a bearish outlook, suggesting the possibility of further decline towards the range of Rs 118-116 in the near term. On the other hand, a sustained movement above Rs 135, which is regarded as a significant resistance area, may restore some buying interest."
Drumil Vithlani, Technical Analyst at Bonanza, noted, "IREDA on the weekly chart is in a clear corrective phase, forming a sequence of lower highs and lower lows. Price is now hovering near a crucial demand zone around Rs 120–125, which earlier acted as a base. However, momentum remains weak, with candles showing a lack of strong buying follow-through. Any bounce from this zone may face resistance near Rs 140 and Rs 155, where prior breakdown levels exist. A decisive close below Rs 120 could open downside toward Rs 105–110. Trend bias stays cautious to negative unless price reclaims Rs 155 with strong volume, signalling a structural reversal rather than a temporary pullback."
Ravi Singh, Chief Research Officer at Mastertrust, said the immediate support for the stock could be seen at Rs 122, while resistance is likely around Rs 145.
Shares of Indian Renewable Energy Development Agency Ltd (IREDA) rose 1.62 per cent on Tuesday to close at Rs 129.50, snapping a four-session losing streak. Despite the uptick, the stock remains 34.06 per cent below its 52-week high of Rs 196.40, touched on February 5 last year.
Last month, IREDA's wholly-owned subsidiary, IREDA Global Green Energy Finance IFSC Ltd, sanctioned its first overseas loan of $22.5 million to Swarna Solar Ltd (SSL) for the development of a 100 MW photovoltaic solar power plant in Zambia’s Central Province.
On the financial front, the Navratna PSU reported a strong set of numbers for the quarter ended December 31, 2025 (Q3 FY26). Net profit rose 37.5 per cent year-on-year (YoY) to Rs 584.9 crore, compared with Rs 425.4 crore in the corresponding quarter of the previous fiscal.
Revenue from operations for the quarter climbed 25 per cent to Rs 2,130 crore from Rs 1,698 crore a year ago. Net interest income (NII) grew 34.8 per cent YoY to Rs 897.5 crore, up from Rs 665.8 crore in the year-ago period.
However, some analysts remain largely cautious on the stock's near-term technical outlook. One of the analysts pointed out that a decisive move above Rs 135 could help restore buying interest, while another suggested the stock would need to reclaim the Rs 155 level to indicate any trend reversal.
Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, "IREDA has demonstrated a failed attempt to recover in recent times and has subsequently decreased, encountering resistance at the 21-day exponential moving average (DEMA). The technical parameters align with a bearish outlook, suggesting the possibility of further decline towards the range of Rs 118-116 in the near term. On the other hand, a sustained movement above Rs 135, which is regarded as a significant resistance area, may restore some buying interest."
Drumil Vithlani, Technical Analyst at Bonanza, noted, "IREDA on the weekly chart is in a clear corrective phase, forming a sequence of lower highs and lower lows. Price is now hovering near a crucial demand zone around Rs 120–125, which earlier acted as a base. However, momentum remains weak, with candles showing a lack of strong buying follow-through. Any bounce from this zone may face resistance near Rs 140 and Rs 155, where prior breakdown levels exist. A decisive close below Rs 120 could open downside toward Rs 105–110. Trend bias stays cautious to negative unless price reclaims Rs 155 with strong volume, signalling a structural reversal rather than a temporary pullback."
Ravi Singh, Chief Research Officer at Mastertrust, said the immediate support for the stock could be seen at Rs 122, while resistance is likely around Rs 145.