IREDA up 31% in four days on robust Q3 results; zooms 405% over issue price

For Q3FY24, IREDA reported a healthy 67 per cent year-on-year (YoY) increase in profit after tax (PAT) of Rs 335 crore

Shares of Indian Renewable Energy Development Agency (IREDA) were locked at the 5 per cent upper circuit at Rs 161.75 on the BSE on Wednesday, as of 11:07 am. This was also the stock's fresh lifetime high on a healthy business outlook.

In the past four days, the stock of the state-owned financial institution has rallied 31 per cent after it reported a solid set of numbers for the December quarter (Q3FY24).

With today's gains, the stock has zoomed 405 per cent against its issue price of Rs 32 per share. The company made its stock market debut on November 29, 2023.

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