Shares of Indian Renewable Energy Development Agency Ltd (IREDA) are in news today as the renewable energy stock has been added to the FTSE All-World, All Cap index as an outcome of FTSE's May supplementary index review results. JSW Infrastructure and Tata Technologies have also been included in the indices UK stock market indices.
IREDA shares fell 1.80% to Rs 185.55 in Friday’s trading session. Market cap of the firm fell to Rs 49,871 crore in the previous session on BSE. IREDA saw 25.24 lakh shares changing hands amounting to a turnover of Rs 47.79 crore on BSE.
In terms of technicals, the relative strength index (RSI) of the stock stands at 62.8, signaling it's trading neither in the overbought nor in the oversold zone. IREDA shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day and 100 day moving averages.
The renewable energy stock climbed to its record high of Rs 215 on February 6 this year. Compared to its IPO issue price of Rs 32, the stock has surged 479% till date. The IREDA stock made its market debut on November 29, 2023. It listed at Rs 50, a premium of 56.25% over the IPO issue price of Rs 32.
The IPO was open from November 21 to November 23, 2023. The price band of IREDA's IPO was Rs 30-32 apiece with a lot size of 460 shares. 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.