Shares of Indian Renewable Energy Development Agency Ltd (IREDA) were trading in the red in the afternoon session today even as board of the firm cleared a borrowing programme of up to Rs 30,800 crore for the financial year 2025-26 (FY26). In the current session, IREDA stock was trading 1.44% lower at Rs 167.40 on BSE. Market cap of the renewable energy stock stood at Rs 45,141 crore. IREDA stock is trading neither in the oversold nor in the overbought zone, indicates its RSI of 58.4.
A RSI value below 30 signals the stock is trading in the oversold zone and above 70 it signals is trading in the overbought zone.
According to Trendlyne data, IREDA has a one-year beta of 1.5, indicating high volatility.
IREDA stock touched an all-time high of Rs 310 on July 15, 2024 and a 52-week low of Rs 135.05 on March 27, 2024.
"The Borrowing includes fund raising through Taxable Bonds/Green Taxable Bonds/Sub-ordinated Tier-II Bonds/Perpetual Debt Instruments (PDI)/ / Public & private placement of Tax-free bonds / Capital Gains Tax Bonds/ Term loan from Banks and FI’s/ Green Masala Bonds/ Green Foreign currency bonds (USD/EUR/JPY)/ Foreign currency bonds (USD/EUR/JPY)/Lines of credit from international agencies including multilateral and bilateral agencies/ Foreign Currency Non-Resident (FCNR -B)/ External Commercial Borrowings (ECB-TL & Bonds)/ Loans such as term loans, syndicated loans, subordinated loans/ Bonds/ Notes such as unsecured/ secured Bonds, perpetual bonds, subordinated bonds/ any other instrument for raising foreign currency borrowings / Rupee denominated foreign currency borrowings," the state-run renewable energy financier stated in a BSE filing.
The stock has risen 18.55% in two weeks and gained 19% in a year.
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.