In anticipation of the company’s fiscal first quarter earnings, shares of the Indian Renewable Energy Development Agency (IREDA) increased by more than 6% on July 12 to reach a new record high of Rs 303.70. Investors anticipate that the company will announce good growth statistics in Q1FY25, after the positive provisional business performance.

Before closing 12 percent higher at 278.95 in the previous session, the stock had risen more than 17 percent to reach a new record high of Rs 289.33 on the National Stock Exchange (NSE).

IREDA said late last month that it had loan sanctions of Rs 9,136 crore in the June quarter, up 382.62 percent year over year (YoY) in its Q1FY25 business update. The PSU’s loan disbursements for the quarter were Rs 5,320 crore, increasing 67.61 percent year on year.

With Rs 63,150 crore outstanding, it was 33.77 percent more than the Rs 47,207 crore it was a year earlier.

As of 10:41 am, IREDA shares were trading 4.90% higher at ₹297.60.

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