Indian Renewable Energy Development Agency Share Price Up By 0.37%

The Indian Renewable Energy Development Agency (IREDA) is a government-owned organization that operates under the Ministry of New and Renewable Energy (MNRE) in India. Founded in 1987, IREDA is essential for financing and advancing renewable energy and energy efficiency initiatives throughout the country.

IREDA financial update

IREDA’s financial indicators reflect a robust operational structure. The company has a price-to-earnings (P/E) ratio of 35.38, indicating that investors are paying a fair price for its earnings based on anticipated future growth. The reported earnings per share (EPS) is Rs. 5.37, highlighting its potential for profitability. However, there is currently no dividend yield available.

IREDA recent update

On November 19, 2024, IREDA announced an impressive 42.56% increase in sales, indicating a strong demand for financing renewable energy projects. This growth has been bolstered by initiatives from the Indian government aimed at encouraging investments in renewable energy, which has in turn boosted investor confidence. Furthermore, IREDA reported a 44.83% rise in profitability, demonstrating effective management strategies and enhanced operational efficiency, even in the face of market challenges.

FII holdings in IREDA

The Indian Renewable Energy Development Agency has a 25.00% public holding. The mutual fund holding in the Indian Renewable Energy Development Agency was at 0.19% on 30 Sep 2024. The MF holding has decreased from the last quarter. The FII holding in the Indian Renewable Energy Development Agency was at 2.02% on 30 Sep 2024. The FII holding has decreased from the last quarter.

IREDA recent stock movement

The Indian Renewable Energy Development Agency has a public ownership of 25.00%. As of September 30, 2024, mutual funds held 0.19% of the Indian Renewable Energy Development Agency, which represents a decrease from the previous quarter. Meanwhile, foreign institutional investors (FII) had a holding of 2.02% in the Indian Renewable Energy Development Agency as of the same date, also reflecting a decline from the last quarter.

IREDA future plans for 2030

IREDA aims to accelerate financing for innovative renewable technologies like green hydrogen and offshore wind, aligning with India’s bold goal of achieving 500 GW of non-fossil fuel capacity by 2030. By enhancing partnerships with international financial entities, IREDA is securing funding for extensive projects, reinforcing its essential role in promoting India’s transition to a cleaner and more sustainable energy environment.

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