IREDA shares climb 6% in two sessions; will this upmove sustain?

Shares of Indian Renewable Energy Development Agency (IREDA) Ltd continued their upmove for the second consecutive session on Monday. The stock rose 3 per cent to hit a day high of Rs 178.50. It was last seen trading 1.85 per cent higher at Rs 176.50. At this price, the scrip has moved up 5.82 per cent in a couple of sessions. Despite this, it has corrected 20.42 per cent in the calendar year 2025 so far.

A few analysts believe that the Rs 180-185 zone remains a strong resistance zone for IREDA and only a decisive close above the select range can trigger a further uptick. One of them expects IREDA to trade in a broad range of Rs 140-180.

"For IREDA, Rs 180 is the near-term resistance for the stock. Once the stock decisively breaks above the mentioned level, then only it can climb up to Rs 230 level," Gaurav Sharma, Associate Vice-President and Head of Research at Globe Capital, told Business Today.

"Investors to 'sell-on-rally' near Rs 170 levels. On the higher end, strong resistance may be seen around Rs 185 level," suggested Kunal Kamble, Senior Technical Analyst at Bonanza.

IREDA could trade in a broad range between Rs 140 and Rs 180 levels, Shitij Gandhi, Senior Research Analyst (Technical) at SMC Global Securities, advised.

The state-run renewable energy financier posted a 48.66 per cent year-on-year (YoY) jump in its consolidated net profit for the March 2025 quarter. Profit came at Rs 501.55 crore in Q4 FY25 as against Rs 337.39 crore in the corresponding period last year. Revenue from operations climbed 36.93 per cent to Rs 1,905.06 crore in Q4 FY25 compared to Rs 1,391.26 crore in the year-ago period.

The state-owned firm recently said its loan order book registered a 28 per cent (YoY) growth during the financial year 2024-25. In FY25, the figure stood at Rs 76,250 crore compared to Rs 59,698 crore in the March 2024 fiscal.

The company is a 'Navratna' PSU under the administrative control of the Ministry of New and Renewable Energy. As of March 2025, 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.