IREDA share price strategy 2024: Less than Rs 200 - Cheap stock? Time to BUY? Know expert's view

Written by : Ayush Khar Updated Apr 28, 2024 | 05:20 PM IST Photo : ET Now Digital Conva (71)

IREDA share price strategy 2024: Less than Rs 200 - Cheap stock? Time to BUY? Know expert's viewIREDA Stock Strategy: In a conversation with ET NOW Swadesh, market analyst Gaurang Shah talked at length about his strategy for investing in IREDA ’s (Indian Renewable Energy Development Agency Ltd) stock. The market expert talked at length about the sector in general and advised viewers on how to invest in the stock to maximize their gains.

IREDA Latest News The public sector company informed the bourses that it has been conferred the Navratna status by the Department of Public Enterprises (DPE). The Indian government grants Navratna status to premier public sector undertakings (PSUs), empowering them to execute significant investments of up to Rs 1,000 crore without requiring approval from the central authority.

“In pursuance to Regulation 30 of SEBI (Listing Operations and Disclosure Requirements)

Regulations, 2015, this is to inform that Department of Public Enterprises (DPE) vide its letter

dated April 26, 2024 has granted the ‘Navratna status’ to Indian Renewable Energy

Development Agency Limited (IREDA),” the company said.

IREDA Share Price IREDA’s shares opened at Rs 168.60 apiece on the BSE today. The shares witnessed an intraday high after trading at Rs 174.60 before the market closed. The stock closed in the green at Rs 170.65, up by 2.03 per cent apiece on April 28.

IREDA Share Strategy : Know what Gaurang Shah said Gaurang Shah, Senior Vice President at Geojit Financial Services advised ET NOW Swadesh viewers on how to invest in IREDA’s stock.Had advised investors to invest long term at time of IPO and said that he has the same advice for investors today.

IREDA Share Price History IREDA is a constituent of the S&P BSE Midcap index. According to BSE analytics, the public sector company’s shares have traded northward by 63.07 per cent on a YTD basis; the stock has given returns of 0.50 per cent in three months.The company’s stock has soared 6.13 per cent in a week and has climbed 21.37 per cent in a month. The public sector company’s stock has a 52-week range of Rs 215.00 - Rs 49.99 on BSE. The company has a market cap of Rs 45,866.70 crore as on April 28, as per the BSE website.

About IREDA The company’s website states that Indian Renewable Energy Development Agency Limited (IREDA) was established on 11th March, 1987. IREDA is a Public limited Government Company under the Companies Act, 1956 and it promotes, develops and extends financial assistance for Renewable Energy and Energy Efficiency/Conservation Projects, according to the company’s website.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)

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