IREDA shares climb 3% today; here's what analysts have to say

Shares of Indian Renewable Energy Development Agency (IREDA) Ltd rose 2.83 per cent to hit a high of Rs 167.45. Last checked, the stock was up 1.01 per cent at Rs 164.50. At this price, it has declined 25.83 per cent on a year-to-date (YTD) basis.

The state-run renewable energy financier's board has recently cleared a borrowing programme of up to Rs 30,800 crore for the financial year 2025-26 (FY26). Before this, IREDA mentioned that its borrowing limit was increased by Rs 5,000 crore to Rs 29,200 crore for FY25.

A few analysts suggested the stock looked "slightly bullish" on daily charts. "Support will be at Rs 160 resistance at Rs 171. A decisive move above Rs 171 level may trigger a further upside towards Rs 180. The expected trading range will be between Rs 160 and Rs 180 for the short term," said Jigar S Patel, Senior Manager - Technical Research Analyst at Anand Rathi.

"From a medium-term perspective, Rs 190-200 levels can be seen in IREDA shares," said Jay Thakkar of ICICI Securities.

"IREDA stock price is slightly bullish on daily charts with strong support at Rs 156. A daily close above the resistance of Rs 177 could lead to an upside target of Rs 198 in the near term," said Sebi-registered research analyst AR Ramachandran.

"The stock has rebounded from the crucial support zone of Rs 144 and is showing signs of further upside towards Rs 188–200. It is indicating a near-term bullish strength, but remains below key resistance levels, making it an ideal buy-on-dip candidate. As long as IREDA sustains above Rs 150, the bullish outlook remains intact. However, a break below the said level would negate this positive view and could lead to further downside," said Ameya Ranadive, Chartered Market Technician, CFTe, Sr Technical Analyst at StoxBox.

The counter traded higher than the 5-day, 10-, 20-day and 30-day simple moving averages (SMAs) but lower than the 50-day, 100-, 150-day and 200-day SMAs. Its 14-day relative strength index (RSI) came at 53.40. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The stock has a price-to-equity (P/E) ratio of 28.53 against a price-to-book (P/B) value of 4.69. Earnings per share (EPS) stood at 5.71 with a return on equity (RoE) of 16.43. According to Trendlyne data, IREDA has a one-year beta of 1.5, indicating high volatility.

The company is a 'Navratna' PSU under the administrative controls of the Ministry of New and Renewable Energy. As of December 2024, the government held a 75 per cent stake in it. The organisation offers financial products (fund- and non-fund-based) associated services, from project inception to post-completion, for renewable energy projects and related activities like equipment manufacturing and transmission.