IREDA & Jio Financial shares fall: Should you add on dips? Kush Ghodasara answers

Market expert Kush Ghodasara on Monday said the market could fall further in the near term. "I believe we may see some more downside in Nifty towards 22,500-21,700 levels. Trailing stop loss on the upside will be 23,300. There could be more nervousness in the market," he told Business Today.

In response to a query about Indian Renewable Energy Development Agency (IREDA) Ltd shares, Ghodasara said US President Donald Trump's tariff fear is denting investor sentiment for the renewable sector. "Spare parts of these renewable energy sectors are the most exported ones from India, which is why IREDA and other sector-specific stocks are falling. That said, IREDA is a good stock. It has given a strong run-up and a correction is healthy. Those holding should average it around Rs 160 level," he stated. IREDA stock was last seen trading 3.69 per cent lower at Rs 187.70.

When asked about Jio Financial Services Ltd (JFSL), the market specialist said that the entire NBFC (non-banking financial company) sector may remain under pressure in the near term. "Jio Financial has announced a lot of businesses but the company is not marketing as of now. It is waiting for the right time when it would expand its broking business. Those holding should continue to hold as the stock can perform in the long term. The bottom is approaching as the counter saw a decent correction. Instead of selling rather consider averaging it further lower levels," Ghodasara suggested. Jio Financial shares slipped 4.60 per cent to hit a 52-week low of Rs 233.

JFSL recently announced that its joint venture (JV) with global asset management giant BlackRock (Jio BlackRock Investment Advisers Private Ltd) has incorporated a wholly-owned subsidiary -- Jio BlackRock Broking Private Ltd -- to enter the broking business.

On the earnings front, it posted a marginal 0.32 per cent rise, year-on-year (YoY), in its consolidated net profit for the December 2024 quarter. In Q3 FY25, profit came at Rs 294.78 crore as against Rs 293.82 crore in the year-ago period. Revenue from operations climbed 5.98 per cent to Rs 438.35 crore in Q3 FY25 from Rs 413.61 crore in the corresponding period last fiscal.

State-run renewable energy financier IREDA clocked a 26.8 per cent YoY growth in its net profit for Q3 FY25. Profit climbed to Rs 425.4 crore in Q3 FY25 compared to Rs 335.5 crore in the same period last year.

IREDA's net interest income (NII) climbed 39 per cent YoY, to Rs 622.3 crore against Rs 448.1 crore in Q3 of the previous year. Revenue from operations jumped 35.6 per cent YoY to Rs 1,698.45 crore in Q3 FY25 against Rs 1,252.85 crore in the year-ago period.