Indian Renewable Energy Development Agency Ltd (NSE: IREDA): The stock of the Indian Renewable Energy Development Agency Ltd i.e. IREDA is also included in the stocks that give bumper returns to investors in the short term.
In the first 6 months of 2024, the money of the investors has almost tripled.
However, brokerage is not impressed with this performance of the stock. According to the brokerage, the effect of all the good signs for the stock has already been seen on the price and any additional increase above it is due to the continuous flow from the investors.
What Advice Has Been Given On The Stock?
The brokerage firm has maintained a sell advice on the stock. And the target for the stock has been revised to 130.
In the trading session on Monday, Indian Renewable Energy Development Agency Ltd stock closed at 229 with an increase of about 2 percent. That is, according to sources, the stock can see a decline of 55 percent from here.
The brokerage house had previously set a goal of 110 shares for the stock. As per the study, there isn’t a solid explanation to explain the current price rise in the price.
The report said that even though loan growth is high, return ratios are low and exposure to the private segment is very high. The Relative Strength Index (RSI) of the company in the graph is 83.6.
How Was The Performance Of The Stock?
The price was 289.85 with gains of two percent throughout Monday. During trading, the stock reached the level of 310, which is also its new record level.
The stock has grown 182 percent so far in the year 2024. While at the same time, the stock has risen by 83 % over the last three months.
The stock has grown 62 percent in a month and 18 percent in a week. The stock was listed only in December last year and the issue price was Rs 32 per share. That is, the stock has grown about 10 times so far.
Indian Renewable Energy Development Agency Ltd Stock Performance
| Current Price | ₹ 290 |
| 52-wk High | ₹ 310 |
| 52-wk Low | ₹ 50.0 |
| 5 Days Return | 18.90% |
| 1 Month Return | 63.62% |
Key Fundamentals Parameters
| Market Cap | ₹ 77,851 Cr. |
| Stock P/E | 58.0 |
| Book Value | ₹ 31.8 |
| Dividend | 0.00 % |
| ROCE | 9.30 % |
| ROE | 17.3 % |
| Face Value | ₹ 10.0 |
| P/B Value | 9.10 |
| OPM | 96.2 % |
| EPS | ₹ 5.18 |
| Debt | ₹ 49,687 Cr. |
| Debt to Equity | 5.80 |
Indian Renewable Energy Development Agency Ltd Shareholding Pattern
| Promoters Holding | |
| Dec 2023 | 75.00% |
| Mar 2024 | 75.00% |
| Jun 2024 | 75.00% |
| FII Holding | |
| Dec 2023 | 1.88% |
| Mar 2024 | 1.36% |
| Jun 2024 | 2.70% |
| DII Holding | |
| Dec 2023 | 4.37% |
| Mar 2024 | 0.94% |
| Jun 2024 | 0.42% |
| Public Holding | |
| Dec 2023 | 18.75% |
| Mar 2024 | 22.70% |
| Jun 2024 | 21.87% |
Indian Renewable Energy Development Agency Ltd Share: Last 5 Years’ Financial Condition
Last 5 Years’ Sales:
| 2020 | ₹ 2,368 Cr |
| 2021 | ₹ 2,655 Cr |
| 2022 | ₹ 2,860 Cr |
| 2023 | ₹ 3,483 Cr |
| 2024 | ₹ 5,331 Cr |
Last 5 Years’ Net Profit:
| 2020 | ₹ 215 Cr |
| 2021 | ₹ 346 Cr |
| 2022 | ₹ 634 Cr |
| 2023 | ₹ 865 Cr |
| 2024 | ₹ 1,341 Cr |
Conclusion
This article provides a detail guide about Indian Renewable Energy Development Agency Ltd share.
The information and forecasts provided result from the analysis of our research team, the company’s basics and history, experience and various technical analyses.
Also, we’ve talked in depth about the shares’ prospects and growth possibilities.
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