The Indian Renewable Energy Development Agency (IREDA) Limited saw heavy buying during the early morning session on Monday, following better-than-expected Q1 results 2024 last week. Within a few minutes after the Opening Bell, the price of an IREDA share on the NSE opened at ₹300 per share and reached an intraday high of ₹310. The price of IREDA shares reached a new lifetime high today.
Experts in the stock market believe that since the company announced better-than-expected Q1 results in 2024, the price of IREDA shares has increased dramatically.
The market is buzzing with anticipation of the benefits the firm is expected to get from the PLI Scheme’s subsidy for renewable energy companies, a sentiment that will most likely be reflected in the 2024 budget. As a result, the PSU stock is projected to be a hot topic till Indian Finance Minister Nirmala Sitharaman presents the Union Budget 2024 to parliament.
As of 11:15 am, IREDA shares were trading 4.87% higher at ₹298.00.
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