Ireda share price

IREDA Stock Price Soars: A Look at the Spectacular Rise

IREDA's stock price hits all-time high, surging over 190%! Should you invest? Find out here!

The Indian Renewable Energy Development Agency (IREDA) has been making headlines with its skyrocketing stock prices. On 12th July 2024, IREDA closed at ₹284.65, marking a 0.37% increase from the previous day. The stock continued its upward trend, hitting a new record high of ₹304.60, a remarkable 7.41% surge. Since going public in November last year at Rs 32 per share, IREDA shares have seen an astonishing 850% increase, making it a multibagger scrip.

Investors are closely eyeing IREDA's performance as the company gears up to announce its Q1 results. Ahead of the results, the stock surged by 6% to reach another record high. With a continuous uptrend, IREDA's stock price reached ₹289.33 in the previous session, reflecting a 17% increase. Since its listing at Rs 50 per share, the stock has rallied by approximately 470%, showcasing robust growth in 2024 alone.

The IREDA stock has caught the attention of investors as foreign portfolio investors (FPIs) doubled their stake in June. This surge in investor interest propelled IREDA shares to cross the ₹300 mark, hitting another record high at ₹303.7. The company's consistent growth and positive market sentiment have positioned it as a lucrative investment option.

In the midst of volatile market conditions, IREDA's stellar performance stands out, attracting both retail and institutional investors. As the company continues to demonstrate robust growth and investor confidence, the future looks promising for IREDA's stock price. With a remarkable 850% increase since its IPO, IREDA has established itself as a top performer in the PSU sector.