IREDA Share: Did the stock fall after the exchange's decision? The company gave important information

The decline in the stock of IREDA-Indian Renewable Energy Development Agency continues. The stock has fallen more than 20 percent from its upper level. Experts say that the company's stock has been kept in ASM Stage-1. This is the reason for the pressure. However, the company released business related updates on Tuesday.

Important information related to the company's business -  The company told the exchange that in the first half of the current financial year, which ended on September 30, the loans sanctioned by IREDA increased by 303% to ₹ 17,860 crore compared to last year, while during the same period last year it gave loans of ₹ 4,437 crore.

IREDA has given 56% more loans in the period ended on September 30 as compared to the same half year of last year. The company distributed loans worth ₹ 9,787 crore compared to ₹ 6,273 crore last year. At the end of the first half, IREDA's loan book was ₹ 64,500 crore, which is 36% more than the year-ago quarter, when the PSU's loan book was ₹ 47,514 crore. What is the company going to do now?  IREDA recently told about its fund raising plan. The company intends to raise up to Rs 4,500 crore. The company can raise funds through FPO. The government's stake can come down to 7%. The government currently holds 75% stake. Note What is ASM Stage-1, why does the exchange put the stock in this category?  Let us tell you here that it has been placed in Stage 1 of Additional Surveillance Measure. ASM is a regulatory mechanism established by the stock exchange under which additional surveillance is kept on special securities. According to the BSE website, this step is taken to protect the interests of common investors. According to the exchange, steps are taken from time to time to monitor the trading of securities in the interest of investors and there is a mechanism for this. However, sometimes additional movement is seen in a stock, additional steps are implemented to keep an eye on it. Such stocks are kept in the ASM category. 
 

Read More: Stocks to Buy: These stocks are expected to rise up to 40%, investment advice received this week