During Thursday morning trading, shares of the Indian Renewable Energy Development Agency (IREDA) saw a significant increase following the announcement of the board of directors meeting to discuss and approve the raise. In comparison to Wednesday’s closing price of ₹238.95 per share, the IREDA share price today opened with an upside gap at ₹246 apiece and reached an intraday high of ₹259.40 per share on the NSE, recording an intraday climb of about 7%.
This month’s important IREDA board meeting is scheduled to address and accept a major fundraising proposal. The proposal, which has a high value of ₹4,500 crore, is anticipated to have a significant effect on the company’s financial situation. Due to this event, analysts covering the stock market have projected that IREDA’s share price would continue to rise, with a possible short-term target of ₹300 per share.
As of 10:52 am, IREDA shares were trading 6.78% higher at Rs 255.15 on the NSE.
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