IREDA Shares Surge 10% Ahead Of Tomorrow’s Board Meeting, Still 45% Below From Record High – News18
Last Updated:
Investors are keen on IREDA shares ahead of its March 25, 2025 board meeting for borrowing plan of FY2025-26. The stock surged 10% to Rs 173, with 7.32 crore shares traded.
IREDA shares up 10% on Monday.
IREDA share price: Investors are showing interest in purchasing shares of IREDA (Indian Renewable Energy Development Agency) ahead of its board meeting tomorrow for the borrowing plan for the next financial year. The stock surged 10 percent to Rs 173 during intraday trading, indicating a strong buying trend among investors. Over the last five sessions, this favored stock has risen by nearly 19 percent.
So far, 7.32 crore IREDA shares have been traded during the intraday period, signifying a significant increase in volume.
The IREDA board members are scheduled to meet tomorrow, March 25, 2025, to discuss the Borrowing Plan for FY 2025-26.
IREDA’s 52-week high stands at Rs 310 per share. It is still down 45% from the record high.
IREDA ‘Perpetual Bond’
IREDA earlier launched its first-ever issue of perpetual bonds for an amount of Rs 1247 crores at an annual coupon rate of 8.40 per cent. In the filing, IREDA said it is a major step in optimising the company’s capital structure while capitalising on the current supportive market conditions.
“The issuance of Perpetual Bonds is a strategic move aimed at enhancing IREDA’s Tier-I capital, ensuring a stronger financial foundation to support the rapid expansion of India’s green energy infrastructure,” the company said in the filing.
A perpetual bond also known as ‘perp’ doesn’t have a maturity date and pays a continuous interest rate. The insurer, however, won’t return the principal amount to the lender.
IREDA Share Price
Over the past week, IREDA’s share price saw an increase of 32.40, marking a 23.46% gain, which outperformed the Sensex and BSE Financial Services indices that grew by 5.14% and 7.24% respectively. In the past two weeks, the shares rose by 26.60 or 18.49%, again surpassing the Sensex and BSE Financial Services’ growth rates of 5.22% and 8.32%. However, in the past month, IREDA experienced a slight decline of 1.50 or 0.87%, while the Sensex and BSE Financial Services continued to grow at 4.74% and 7.72%.
Year-to-date, IREDA’s share price fell by 51.30 or 23.13%, underperforming compared to the Sensex’s slight decline of 0.67% and BSE Financial Services’ growth of 1.61%. Over the last three months, the shares dropped by 30.50 or 15.17%, and similarly fell by 56.90 or 25.02% over six months.
