IREDA Shares Soar Over 16% Ahead Of Q1FY25 Earnings; Foreign and Small Investor Interest Increases

The shares of Indian Renewable Energy Development Agency (IREDA) on Thursday (July 11) surged over 16 per cent, reaching another record high of Rs 279 ahead of the company Q1FY25 result announcement.

The company is set to announce its first quarter of fiscal 2025 earning on Friday (July 12).

Ahead of this, the shares of the company today are trading above 16 per cent. On BSE, the shares were trading at Rs 287.35, up by 16.41 per cent. Meanwhile on NSE, the stocks of the company were trading at 14.97 per cent, reaching to Rs 288.31.

Moreover, the market capitalisation of the company has now reached Rs 75,000 crore.

At 3:25 pm IST, the shares of the company on BSE was trading on positive note, up by 14.74 per cent, reaching Rs 281.20.

During the trading hours, the company shares reached an high of Rs 289.33 and as low as Rs 241.55. On BSE, the shares open the day at Rs 248.39.

Foreign Investors Increase Stake

In the quarter ending June 30, the foreign portfolio investors increased their ownership in the company to 2.7 per cent, up from 1.36 per cent in the previous quarter.

Although, despite this rise, there is no prominent shareholder holding more than 1 per cent has emerged.

Rise in Small Shareholders

During the April-June period, the number of small shareholders also saw an uptick. The total count of shareholders holding less than Rs 2 lakh worth of shares surged to 22.15 lakh, compared to 21.23 lakh in the preceding March quarter.

Last year in November, IREDA made its stock market debut at Rs 32 per share and from then onwards, the shares of the company has had seen a significant surge which is more than eight times its IPO, approaching the Rs 300 mark.

Shares performance

The shares of the company, today, at 3:30 pm IST closed at Rs 278.95, up by 12.81 per cent.