IREDA Shares Tank 9% Amid Market Volatility, Down 50% From Peak – News18
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IREDA shares dropped 9% intraday on Monday, trading at Rs 143.75. The stock is down 50% from its peak. FY23-24 revenue was Rs 4,963.95 Cr, with a net profit of Rs 1,252.23 Cr.
IREDA shares down 9 per cent on Monday.
IREDA Share Price: On Monday morning, shares of IREDA (Indian Renewable Energy Development Agency) cracked up to 9 per cent during the intraday session following the volatility in the Indian stock market. The railway PSU stock is down by 50 per cent from its all-time high.
Around 12:00 PM, shares of IREDA were trading at Rs 143.75 apiece against the previous day close at Rs 155.90 apiece. Earlier, the scrip saw a positive note opening at Rs 156.85 apiece.
On a technical front, the stock is trading below the EMAs of 5-day, 20-day, 50-day, 200-day and 100-day.
IREDA’s current market capitalization stands at Rs 38,515 crore, making it a constituent of BSE 200.
IREDA Share Price History
IREDA shares shed 10 per cent in the past 1 years over the weak market situation as per BSE analytics.
IREDA Financial Performance
IREDA’s financial results showcase the company’s performance across different reporting periods. In the fiscal year FY23-24, IREDA achieved a revenue of Rs 4,963.95 Cr. For the same period, the net profit reached Rs 1,252.23 Cr., resulting in an Earnings Per Share (EPS) of Rs 5.16. Looking at the quarterly performance, revenue stood at Rs 1,629.57 Cr. in September 2024 quarter, while it reached Rs 1,698.47 Cr. in December 2024 quarter. Net profit for the September and December quarters was recorded at Rs 387.75 Cr. and 425.38 Cr., respectively, leading to an EPS of Rs 1.44 and Rs 1.58.
Sensex, Nifty Fall After Positive Opening
The domestic market on Monday declined half an hour after witnessing a strong opening. The BSE Sensex slipped over 850 points from its day’s high to trade below the 73,000 mark at 72,873, while the NSE Nifty declined by nearly 250 points from its day’s peak to trade at its support level of 22,000.
PSU banks and pharma stocks are facing the biggest pressure on Monday; while auto, capital goods and metal are trading higher.
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