IREDA shares jumped 5% today; here's what investors should do

Shares of Indian Renewable Energy Development Agency (IREDA) Ltd surged 4.80 per cent to hit a high of Rs 174.80 on Friday. Last checked, the stock was up 4.47 per cent at Rs 174.25. Despite the mentioned rise, it has corrected 21.44 per cent on a year-to-date (YTD) basis.

On the earnings front, the state-run renewable energy financier recorded a 48.66 per cent year-on-year (YoY) jump in its consolidated net profit for the March 2025 quarter (Q4 FY25). During the quarter under review, profit came at Rs 501.55 crore as against Rs 337.39 crore in the corresponding period last year (Q4 FY24).

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.

A few market experts said Rs 180 level would be a strong resistance for the stock. One of them suggested a 'sell-on-rally' approach. 

Jigar S Patel, Senior Manager - Technical Research Analyst at Anand Rathi, said, "Support will be at Rs 165 and resistance at Rs 175. A decisive move above Rs 175 level may trigger a further upside towards Rs 180. The expected trading range will be between Rs 165 and Rs 180 for the short term."

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

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

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.