IREDA Share Price Highlights: IREDA closed today at ₹172.05, down -2.88% from yesterday’s ₹177.15
Market Insights: A Deep Dive into the World of IREDA
Introduction
IREDA, a leading renewable energy developer, has been making headlines with its recent share price performance. On the last trading day, IREDA opened at ₹173.80 and closed slightly lower at ₹173.75. The stock reached a high of ₹187.75 and a low of ₹172.70 during the day. With a market capitalization of ₹47,613.75 crore, IREDA’s performance remains notable within its 52-week range, having previously peaked at ₹310 and dipped to ₹121. The BSE volume for the day was 3,700,130 shares.
Return Metrics and Efficiency
IREDA has a ROE of 17.28% in the most recent fiscal year. It has a return on investment of 2.28% in the last fiscal year. The consensus estimates of ROE in the current and upcoming fiscal year are 17.00% & 17.00%, respectively.
Financial Performance
IREDA has delivered a EPS growth of 1.81% & a revenue growth of 23.10% in the last 3 years. In the trailing twelve months, the company has a revenue of 62278.82 cr which is 25.18% higher than the revenue of the most recent fiscal year. The company has a predicted growth of -100.00% for revenue & -100.00% in profit for the quarter.
Consensus Analyst Rating
IREDA’s analyst recommendation trend is shown below with the current rating as Hold. The median price target is ₹215.0, 25.0% higher than the current market price. The lowest target price among analyst estimates is ₹150.0 and the highest target price is ₹280.0. These target price estimates are for the next 1 year.
Stock Peers
The share price of IREDA has decreased by 2.88%, currently trading at ₹172.05, in line with its peers. Companies like Waaree Energies, JSW Infrastructure, Premier Energies, and Global Health are also experiencing declines. In general, the benchmark indices Nifty and Sensex have dropped by 0.51% and 0.65%, respectively.
Price Analysis
The share price of IREDA has decreased by 2.12%, currently trading at ₹173.40. Over the past year, IREDA shares have increased by 5.69%, reaching ₹173.40. In contrast, the Nifty index has seen a rise of 8.84%, reaching 22,795.90 during the same one-year timeframe.
Key Support and Resistance Levels
The key support and resistance levels for IREDA on the daily timeframe are given below. Please note these support and resistance levels are derived from the classic pivot table.
Consolidation and Breakout Indicators
IREDA’s technical indicators suggest a Moderately Bullish near-term outlook. However, the stock is exhibiting preliminary indications of a trend reversal following a significant downtrend. Continued monitoring is advised.
Conclusion
IREDA’s recent share price performance is a reflection of the company’s strong financials and attractive valuations. With a ROE of 17.28% and a return on investment of 2.28%, IREDA is a stock to watch in the renewable energy sector. However, investors are advised to monitor the company’s performance closely, as the stock may experience further volatility.
