![IREDA shares jump 9% to hit fresh record high post Q1](https://images.assettype.com/fortuneindia%2F2023-11%2F1827d34d-6aab-493d-9c82-896eb50e93bb%2FIREDA.jpg?w=300&q=95)
IREDA shares jump 9% to hit fresh record high post Q1
The multibagger renewable stock has risen nearly 29% in four sessions, while it rallied 63% in just 11 sessions of July.
The multibagger renewable stock has risen nearly 29% in four sessions, while it rallied 63% in just 11 sessions of July.
The largecap stock, which debuted in November last year, has risen more than 850% against the initial public offering (IPO) price of ₹32 apiece.
The midcap stock has zoomed 395% in less than a year, rebounding from its 52-week low of ₹234.53 touched on May 25, 2023.
Last week, ICRA and CARE upgraded PNB Housing Finance's long-term ratings, citing its improved asset quality metrics as well as strengthened capitalisation profile.
The board of directors of IREDA is scheduled to meet on March 28 to consider and approve the borrowing programme for FY25.
The NSE has revoked the inclusion of IREDA in key indices due to its non-compliance with SEBI portfolio concentration norms.
The PSU has signed a deal worth ₹2,890 crore with the defence ministry for mid life upgrade of Indian Navy’s 25 Domier aircraft.
The PSU stock has risen nearly 300% from its 52-week low of ₹96.20 hit on March 28, 2023.
The GoI, which holds a 79.2% stake in the company, offers to offload 5% of its stake with an option to sell an additional 2% stake if there is more demand.
The PSU has received multiple orders from Himachal Pradesh State Electricity Board and Madhya Pradesh Metro Rail Corporation.