Ireda Stock Up After FY25 Loan Disbursements Grow 20%
Indian Renewable Energy Development Agency Ltd. share price was trading higher during early trading on Tuesday, after the company released its annual business update.
Loan disbursements in the financial year ending March 31, 2025, rose 20% to Rs 30,168 crore, according to a stock exchange filing. Loans sanctioned increased by 27% year-on-year to Rs 47,453 crore.
The total loan book stood at Rs 76,250 crore, a growth of 28% over the previous fiscal.
Government-owned Ireda focuses on promoting sustainable energy solutions in India. The company provides financial assistance to renewable energy projects, including solar, wind, hydro, and biomass.
Last week, the board approved a borrowing programme of up to Rs 30,800 crore for the financial year 2026. The borrowing includes various debt instruments such as green taxable bonds, green masala bonds, and more, to support the company's growth initiatives. The company had recently hiked its borrowing limit from Rs 24,200 crore to Rs 29,200 crore.
Ireda Stock Movement
Ireda share price was up 0.85% at Rs 161.95 apiece, as compared to a 0.14% fall in the benchmark NSE Nifty 50 at 10:00 a.m.
The company's stock has declined by 25% year-to-date, but has gained 13% in the last 12 months. The relative strength index stood at 50.
Out of two analysts tracking the company, one each maintains a 'buy' and a 'sell' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 23%.
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