IREDA shares in news today, here's why
IREDA share price: The green energy stock climbed 4.64% to Rs 233.60 on Tuesday against the previous close of Rs 223.25 on BSE. IREDA’s market cap rose to Rs 62,786 crore.
- Sep 11, 2024,
- Updated Sep 11, 2024 8:25 AM IST
Shares of Indian Renewable Energy Development Agency Ltd (IREDA) are in news today today after the PSU said the International Financial Services Centre Authority (IFSCA) has awarded provisional registration to its subsidiary IREDA Global Green Energy Finance IFSC Limited as a finance company at GIFT City. The green energy stock climbed 4.64% to Rs 233.60 on Tuesday against the previous close of Rs 223.25 on BSE. IREDA’s market cap rose to Rs 62,786 crore. IREDA shares clocked a high turnover of Rs 105.62 crore in the previous session as 44.99 lakh shares changed hands on BSE.
The stock fell to a record low of Rs 49.99 on November 29, 2023 and rose to a record high of Rs 310 on July 15, 2024.
In terms of technicals, the relative strength index (RSI) of the stock stands at 44.4, signaling it's trading neither in the overbought nor in the oversold zone.
"The International Financial Services Centre Authority (IFSCA) has granted provisional registration to IREDA Global Green Energy Finance IFSC Limited (a wholly owned subsidiary of IREDA) as a finance company at GIFT City," said IREDA in a communication to bourses.
The announcement was made on Tuesday in the presence of Pralhad Joshi, Union Minister for New and Renewable Energy, Consumer Affairs, Food, and Public Distribution; Kanubhai Desai, the Minister of Finance, Energy, and Petrochemicals, Government of Gujarat; Bhupinder Singh Bhalla, Secretary, MNRE; and Pradip Kumar Das, CMD, IREDA.
"The establishment of IREDA Global Green Energy Finance IFSC Limited is a strategic initiative to expand IREDA’s international footprint and unlock new business opportunities," said IREDA.
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) are in news today today after the PSU said the International Financial Services Centre Authority (IFSCA) has awarded provisional registration to its subsidiary IREDA Global Green Energy Finance IFSC Limited as a finance company at GIFT City. The green energy stock climbed 4.64% to Rs 233.60 on Tuesday against the previous close of Rs 223.25 on BSE. IREDA’s market cap rose to Rs 62,786 crore. IREDA shares clocked a high turnover of Rs 105.62 crore in the previous session as 44.99 lakh shares changed hands on BSE.
The stock fell to a record low of Rs 49.99 on November 29, 2023 and rose to a record high of Rs 310 on July 15, 2024.
In terms of technicals, the relative strength index (RSI) of the stock stands at 44.4, signaling it's trading neither in the overbought nor in the oversold zone.
"The International Financial Services Centre Authority (IFSCA) has granted provisional registration to IREDA Global Green Energy Finance IFSC Limited (a wholly owned subsidiary of IREDA) as a finance company at GIFT City," said IREDA in a communication to bourses.
The announcement was made on Tuesday in the presence of Pralhad Joshi, Union Minister for New and Renewable Energy, Consumer Affairs, Food, and Public Distribution; Kanubhai Desai, the Minister of Finance, Energy, and Petrochemicals, Government of Gujarat; Bhupinder Singh Bhalla, Secretary, MNRE; and Pradip Kumar Das, CMD, IREDA.
"The establishment of IREDA Global Green Energy Finance IFSC Limited is a strategic initiative to expand IREDA’s international footprint and unlock new business opportunities," said IREDA.
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.