IREDA Share News: Indian Renewable Energy Development Agency (IREDA) is the leading green energy company which is continuously expanding its energy projects and storing energy from various renewable sources. Government’s focus on renewable energy development and new policies implementation has also played a major role to boost the share price. The financial conditions of the company are healthy. Recently, IREDA got Navratna status which gave a huge boost of confidence among investors. Because of its Navaratna Status IREDA can now invest 75% of its capital in any sector.
IREDA turned out as a multibagger stock since it was listed in the stock market.The shares have offered more than 216% returns in less than 1 year.
Recently IREDA got AAA credit rating from CARE Rating company due to which the share price further increased Rs 178 to Rs 191 with a gain of 7.50%. Despite upgraded ratings and good financial status, Market expert Surendra Srivastav warned about a huge fall in the share price. Here’s what he said during an interview with CNBC Awaaj.
IREDA Share News: Share Got AAA Credit Rating
Recently, CARE rating agency has upgraded the credit rating of IREDA company from AA+ to AAA. This reflects that the company’s operational and financial performance has improved so the share price may remain stable for some time. Â
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The managing director of the company Mr. Pradip kumar Das said that, this credit upgrade is a great achievement of the company.
This upgrade will help to build confidence among investors so that companies can focus towards development of renewable energy production. He also said that governmen’s support will help us maintain positive momentum and continue growth.
The total market capital of IREDA company has increased to more than 50 thousand crore rupees in just 6 months, which shows the potential of the company.
IREDA Share May See Huge Huge Decline
Market expert Surendra Srivastava said that IREDA is currently trading at a strong zone. It is only about 10% away from to cross the previous all-time high of Rs 214.80. If IREDA shares trade at its strongest level and consolidate in this price range for a few days then a good price surge can be seen in near future.
He also said that if the share does consolidate at its strong level then a little selling can lead to a huge price fall at a level of Rs 140.
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