IREDA shares in focus as firm launches QIP to raise up to Rs 5,000 crore
Shares of state-owned
Indian Renewable Energy Development Agency
(IREDA) will be in focus on Friday after the company launched a
qualified institutional placement
(QIP) to raise up to Rs 5,000 crore on Thursday night.
IREDA's board has fixed the floor price for the QIP at Rs 173.83 per equity share, as per a stock exchange filing on Thursday. The company may offer a discount of up to 5% on the floor price.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Dhoni's Exclusive Home Interior Choice?
HomeLane
Get Quote
Undo
The board also approved the preliminary placement document and draft application form related to the QIP.
Merchant bankers managing the issue include IDBI Capital Market Services,
BNP Paribas
, SBI Capital Markets,
Emkay Global Financial Services
, and Motilal Oswal Investment Advisors.
The government's equity dilution through this QIP will not exceed 7%, as per the proposal approved earlier in January.
Live Events
Also Read:
India's top 10 priciest stocks in 2025: MRF to Elcid, see who tops the list
IREDA Q4 earnings
In the March quarter, IREDA reported a 49% year-on-year rise in consolidated net profit to Rs 502 crore, compared to Rs 337 crore a year ago.
Revenue from operations rose 37% YoY to Rs 1,905 crore, up from Rs 1,391 crore in Q4FY24. On a sequential basis, profit after tax grew 18% from Rs 425 crore in Q3FY25.
Operating profit for Q4FY25 stood at Rs 770 crore, up 55% from Rs 498 crore in the same quarter last year.
Gross NPAs for the March quarter stood at Rs 1,866 crore, compared to Rs 1,845 crore in Q3FY25 and Rs 1,411 crore in Q4FY24.
Also Read:
From Zoho's Radha Vembu to Nykaa's Falguni Nayar: India's top 10 first-gen women wealth creators in 2025
IREDA share price target and performance
According to Trendlyne, the average target price for IREDA is Rs 173, suggesting a potential downside of around 2% from current levels. Of the two analysts covering the stock, the consensus rating is 'Buy'.
IREDA shares closed 1.5% higher at Rs 176.5 on the BSE in the previous session, outperforming the Sensex's 0.55% gain. While the stock has risen 2% over the past year, it is down 20% year-to-date.
(
Disclaimer
: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
15 minutes ago
- Hans India
Gold rates in Delhi today slashes, check the rates on 10 June, 2025
The gold rates in Delhi slashed on 10 June, 2025. Going by the rates today, the price of 10 grams of 22-carat gold is at Rs 89,600 with a fall of Rs. 100 while the rate of 10 grams of 24-carat gold is at Rs. 97,730 with a fall of Rs. 110 While the Silver rate is at Rs. 1,08,100 per kilogram. The gold rates in the international market have been fluctuating. Over the past few weeks gold rates have experienced a fall during the wedding season, fluctuating around Rs. 90,000 for 10 grams of 24-carat gold and approximately Rs. 100,000 for 10 grams of 22-carat gold. The gold prices mentioned here are due at 8 am, the prices could alter at every moment and hence the gold buyers need to track the live prices at a given time. The mentioned prices here are closing prices of yesterday while today's price would begin either with a decrease or increase.
Hans India
15 minutes ago
- Hans India
Gold rates in Visakhapatnam today slashes check the rates on 10 June, 2025
The gold rates today slashed in Visakhapatnam on 10 June, 2025. Going by the rates today, the price of 10 grams of 22-carat gold is Rs. 89,450 with a fall of Rs. 100 while the rate of 10 grams of 24-carat gold is at Rs. 97,580 with a fall of Rs. 110. While the Silver rate is at Rs. 1,17,900 per kilogram. The gold rates in the international market have been fluctuating. Over the past few weeks gold rates have experienced a fall during the wedding season, fluctuating around Rs. 90,000 for 10 grams of 24-carat gold and approximately Rs. 1,00,000 for 10 grams of 22-carat gold. The gold prices mentioned here are due at 8am, the prices could alter at every moment and hence the gold buyers need to track the live prices at a given time. The mentioned prices here are closing prices of yesterday while today's price would begin either with a decrease or increase.
Time of India
16 minutes ago
- Time of India
Sensex off to a choppy start, Nifty tests 25,100; bank stocks top drags
Live Events Experts View Global Markets FII/DII Tracker Crude Oil Rupee vs Dollar (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Tracking positive cues from the US and Asian markets, benchmark indices Sensex and Nifty opened higher for the fifth straight session on Tuesday, buoyed by optimism around US-China trade talks and supportive domestic policy signals. However, early gains were short-lived as the market quickly slipped into a volatile trading 9:32 am, the BSE Sensex was down 160 points, or 0.19%, at 82,284, while the Nifty50 dropped 5 points, or 0.02%, to 25, Sensex constituents, IndusInd Bank Infosys , and NTPC opened in the green, while Eicher Motors HUL , and Bajaj Finserv saw in Asia, markets opened higher, with the MSCI Asia ex-Japan index up 0.5%.On Wall Street, US equities closed mostly higher overnight and the dollar eased as trade talks between the US and China kicked off in London, aiming to resolve a dispute that has weighed on global markets for much of the year. US President Donald Trump said he was receiving "good reports" on the progress of the individual stocks, Jana Small Finance Bank surged over 6% after the lender announced it has submitted an application to the Reserve Bank of India (RBI) seeking a universal banking licence. Premier Energies rose nearly 4% amid reports that South Asia Growth Fund II Holdings likely offloaded up to 2.5 crore shares, representing about 5.5% of the company's equity, via block the sectoral front, Nifty Bank and Financial Services declined 0.3% and 0.5%, respectively, while Nifty Auto, IT, Media, Metal, and Oil & Gas gained up to 1.1%. In the broader market, the Nifty Midcap100 and Smallcap100 rose 0.2% and 0.3%, respectively."Nifty is likely to consolidate in the 24500 - 25500 range in the near term. There are no short-term triggers to take the Nifty beyond the upper band. Some profit booking pulling the market slightly down is likely. But ample liquidity will ensure that dips will get bought, helping the market to consolidate," said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments."From a global perspective, market participants will be keenly following the progress of trade talks between the U.S. and China. Even though there is optimism regarding a favourable outcome, it is unlikely to happen quickly," Vijayakumar Vakil, Head of Prime Research at HDFC Securities, said, "By decisively breaking out from its consolidation range of 24,500 to 25,100, Nifty has re-entered a phase of bullish momentum. The index is now likely to extend its rise towards 25,307. On the lower side, the immediate support level has now shifted upwards to 24,800."Stocks were buoyant and the dollar remained on guard on Tuesday as trade talks between the United States and China were set to extend to a second day, with tentative signs tensions between the world's two largest economies could be easing.U.S. President Donald Trump put a positive spin on the talks at Lancaster House in London, which wrapped up for the night on Monday and were set to resume at 0900 GMT on advanced in Asia, extending their rise from the start of the week. EUROSTOXX 50 futures and FTSE futures both added roughly 0.1% broadest index of Asia-Pacific shares outside Japan advanced 0.5%, while Nasdaq futures gained 0.62%. S&P 500 futures edged 0.43% institutional investors (FIIs) bought equities worth Rs 1,992.87 crore on June 9, while domestic institutional investors (DIIs) continued their buying spree with purchases worth Rs 3,503.79 prices climbed on Tuesday as investors awaited the outcome of U.S.-China talks that could pave the way for easing trade tensions and improve fuel crude futures rose 28 cents, or 0.4%, to $67.32 a barrel by 0330 GMT. U.S. West Texas Intermediate crude was up 23 cents, or 0.4%, at $ Indian rupee rose 5 paise to 85.61 against the US dollar in early trade. The dollar index, which tracks the movement of the greenback against a basket of six major world currencies, rose 0.20% to 99.13 level.(With inputs from agencies)
