IREDA’s stock had a good day, rising by 3 per cent to reach a day high of Rs 178.50. It closed at Rs 176.50, showing a 1.85 per cent increase. Over the course of a couple of sessions, the stock has seen a total increase of 5.82 per cent, which is not too shabby. However, in the grand scheme of things, the stock has actually dropped by 20.42 per cent in the year 2025 so far. It seems like a rollercoaster ride for the Indian Renewable Energy Development Agency (IREDA) Ltd shares.
Analysts are keeping a close eye on IREDA’s stock, with some pointing out that the Rs 180-185 range is a tough nut to crack. They believe that only a strong push above this range could lead to further gains. Gaurav Sharma from Globe Capital mentioned, “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.” It’s like trying to break through a brick wall, but hey, anything is possible in the stock market.
Kunal Kamble from Bonanza suggested that investors should be cautious around Rs 170 levels and brace themselves for some resistance around Rs 185. It’s like walking on thin ice, you never know when it might crack. Shitij Gandhi from SMC Global Securities advised that IREDA could be playing in the range of Rs 140 and Rs 180 levels for a while. It’s like being stuck in a loop, going back and forth between the same numbers.
Despite the ups and downs in the stock price, IREDA managed to post a 48.66 per cent year-on-year increase in its consolidated net profit for the March 2025 quarter. The revenue from operations also saw a healthy 36.93 per cent climb. The company seems to be doing something right, even with all the fluctuations in the market. With the government holding a 75 per cent stake in IREDA, it’s like having a safety net to fall back on in case things go south.
Overall, IREDA’s journey in the stock market has been nothing short of a rollercoaster ride. With analysts keeping a close watch on its every move and investors holding their breath with each price fluctuation, it’s like a high-stakes game of poker. Who knows what the future holds for IREDA’s stock, but one thing’s for sure – it’s going to be one heck of a ride.