New Delhi: Indian Renewable Energy Development Agency (IREDA) shareholders are having a dream run as the stock has given bumper returns to its shareholders since its dream debut at 56 per cent on November 29, 2023. The IREDA share price reached its all time peak of Rs 209.45 on February 9, 2024. IREDA stock closed at Rs 185.10 apiece on NSE on 29th May 2024.
‘Buy IREDA share for long term’
Commenting on the prospects of the IREDA share price in the long run, Dr (CA) Sharad Kohli, economist and Stock Market expert, suggested buying the green energy stock for superb returns in 3-5 years.
Sharing his valuable inputs with News9, Kohli heavily backed the stock, saying, “This is one stock that I have my eye on. It is currently trading at Rs 183-184,” adding that the long term prospects of this stock are very bright.
Recommending purchase of IREDA shares at current levels, the expert said, “The speed at which the nation, the economy and the world are catching up with renewable energy is unimaginable. There have been CoP Summits where India has already promised…whether it is wind energy, solar energy, biofuels. All the renewable energy alternates are being explored and very very quickly implemented. The cars are running on hydrogen, ethanol being used. So, wherever there is renewable energy involved, especially after the announcement of Pradhanmantri Suryodaya Yojana solar panels are being installed on the roofs. I think the initiatives of the Indian government and industries, Micro, Small & Medium Enterprises will sharply boost this particular sector. So my long term vision for IREDA is very bright. I recommend investments for 3-5 years for investors who want to buy IREDA shares.”
IREDA share price history
The shares of IREDA made its market debut on 29th November. The stock was listed at a 56.25 per cent premium over the IPO issue price of Rs 32. The state-run PSU player rai
IREDA is a Mini Ratna (Category – I) government enterprise and controlled by the Ministry of New and Renewable Energy (MNRE). The company is engaged in the business of promoting, developing, and extending financial assistance for new and renewable energy projects, as well as energy efficiency and conservation projects.
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Stock Market expert recommended buying Indian Renewable Energy Development Agency (IREDA) shares at current levels. He said investors should hold the stocks for 3-5 years for bumper returns. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
