IREDA shares in focus today, here's why 

Shares of state-run Indian Renewable Energy Development Agency Ltd (IREDA) are in news on Wednesday after the company said its board would meet on March 17 to consider the enhancement of the borrowing plan for FY 2024-25.

IREDA stock ended 1.29% lower at Rs 142.05 on BSE in the previous session. Market cap of the renewable energy stock stood at Rs 38,179 crore.

In terms of technicals, relative strength index (RSI) of the stock stands at 28.5, signaling it's trading in the overbought zone.

IREDA stock touched an all-time high of Rs 310 on July 15, 2024 and a 52 week low of Rs 121 on March 14, 2024.

IREDA sanctioned loans worth Rs 31,087 crore in the December 2024 quarter, a growth of 129% from the same quarter last year. The state-run renewable energy financier had sanctioned loans worth Rs 13,558 crore during the December 2023 quarter.

Disbursements in Q3 climbed 41% from the year-ago quarter to Rs 17,236 crore compared to Rs 12,220 crore last year.

IREDA's loan book outstanding climbed 36% to Rs 69,000 crore in from Rs 50,580 crore at the end of December 2023.

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.