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New Delhi: In Thursday's trading session, the shares of Indian Renewable Energy Development Agency i.e. IREDA Share have risen. In the initial trading itself, the shares of the company rose by more than 6 percent. If we talk about the performance of the stock, then in the last one year the company has proved to be a multibagger. On December 1, 2023, the company's shares were listed at Rs 62.75 and today the price per share has gone up to Rs 255.95.
Due to the rise in the shares of IRDAI, investors are wondering why other investors are showing interest in the company's shares. Today we will tell you why the company's shares have risen.
Before knowing the reason for the rise in the shares, let us tell you that at 11.10 am, IRDA shares were trading at Rs 255.95 per share, up 7.11 per cent or Rs 17.
After 12 pm, IREDA stock jumped 10.19 per cent to Rs 263.30.
Why did the stock rise?
Indian Renewable Energy Development Agency informed after market close on Wednesday that its board meeting is scheduled to be held on August 29, 2024. Many decisions can be taken in this meeting for better performance of the company.
Apart from this, the board may also approve raising of funds worth Rs 4500 crore. The company will raise this fund through FPO or QIP or rights issue or preferential issue. Due to the indication of approval of the fund, investors preferred to buy shares.
IREDA Share Performance
Within a year, the performance of the company's stock was excellent. From December 2023 to August 22, 2024, the company's stock has given a return of 338.17 percent. At the same time, in the last six months, the company's shares rose by 56.67 percent.
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