IREDA shares rise 2% before board meeting discussion

IREDA shares rose nearly 2% on March 17 as investors awaited a board meeting to discuss a borrowing plan for FY 2024-25. This follows a recent setback with the Reserve Bank of India regarding an equity investment in a hydroelectric project in Nepal. Despite the regulatory issue, IREDA reported a strong 27% increase in net profit for Q3FY25, reaching ₹ 425.38 crore. Total revenue also grew by 35.6% year-on-year, indicating ongoing investor interest. The stock remains below its 52-week high of ₹ 310, reflecting a 54% decline since July 2024. However, it has rebounded 18% from its 52-week low of ₹ 121, despite facing selling pressure in recent months.