New Delhi: Indian Renewable Energy Development Agency (IREDA) and NHPC shares have given strong returns in the last one year. However, in the recent months both the stocks have seemed to be under pressure and recorded a downfall.
IREDA share price rallied around 250 per cent since its debut in November 2023. However, the PSU stock has significantly declined and investors seem to be worried. Experts have given their opinion on IREDA and NHPC stocks.
Speaking to Money9live, Dhvani Shah Patel, Founder of Finversify, advised IREDA shareholders to hold on to their shares. She said overall the stock is looking prospective on the positive side. Although the stock has underperformed currently, the overall structure is on the positive side.
Further giving her expert views on IREDA share price, Patel said if one looks at on a short term basis, a buying action is being seen here. The share has held a positive side, if it continues and the stock crosses the levels of 235-240 then it can go up to the level of Rs 310. Stop loss can be maintained on this stock around Rs 205, she advised. IREDA stock closed nearly 3.50 per cent down at Rs 215.75 on January 9, 2025.
However, there seems to be some set back for the NHPC shareholders according to Dhvani Shah Patel. She predicted NHPC stock to further decline. If the stock breaks the level of Rs 75, it can fall to Rs 68. Overall the counter looks negative. Even if this stock rises, at present it does not seem to be going close to Rs 100, she opined. NHPC shares settled at Rs 78.22 apiece on January 9, 2025
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
IREDA share price expected to rise if it crosses the levels of Rs 235-240, Dhvani Shah Patel, Founder of Finversify, said. Patel said NHPC stock can decline further saying it can decline to the level of Rs 68. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
