IREDA Stock: The Shares of IREDA have been on tremendous upward trends since they were listed on exchanges earlier this month. The stock of the Indian Renewable Energy Development Agency has performed exceptionally well and given a lot of returns to its investors in a short period.
Jumps 19% in day trade
Earlier on Friday, The shares of IREDA had reached a high of Rs 73.67 on the Bombay Stock Exchange (BSE). Today on December 11, The shares were closed at Rs 85 on the National Stock Exchange with a rise of 19.97 percent.
Hit Upper Circuit Today
The stock has delivered a 31.27 percent return in the last 5 trading days. The stock opened at Rs 74 at 9:15 Am and touched the level of Rs 85 during the trade hours. It breached the upper circuit mark around 11:00 PM in early trade hour.
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165% Return in the last 11 days
The stock has seen a rise of up to 165 percent in the last 11 days after since it got listed on both exchanges. Indian Renewable Energy Development Agency is the only non-banking financial company in the field of renewable energy. The company is emerging as the largest green financing NBFC in India.
IREDA issue price was Rs 32
The issue price of IREDA ISO was Rs 32 per share. However, the IPO listed with a whopping 56.25% premium at Rs 50 against it issue price. Since then the stock has been on the bullish trend.
The company deals in finance in the green energy sector. Market experts and investors have been showing a keen interest in investing in the green energy segment for the last 2 years. Hence, the IREDA IPO has witnessed an extraordinary response from the investors. It was oversubscribed 38.80 times against the issue size.
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