IREDA PROFIT INCREASE
How the Jaggi brothers misled investors and lenders while being cleantech poster boys
BluSmart, once celebrated as India's first all-electric ride-hailing service, faces a crisis as promoters Anmol and Puneet Singh Jaggi are accused by SEBI of fund diversion from Gensol. This revelation has shaken investor confidence, leading to leadership exits and a decline in daily rides.
Ahead of Market: 10 things that will decide stock market action on Thursday
Indian markets ended higher on Wednesday, led by financial stocks, amid strong domestic fundamentals like low inflation and FII inflows, despite global tariff tensions and weak Q4 earnings expectations. Analysts foresee potential rate cuts supporting further momentum.
Sebi pulls Gensol’s plug; Wipro Q4 results
Sebi has banned Gensol Engineering and its promoters from accessing the securities market. This and more in today’s ETtech Top 5.
Stocks in news: Wipro, Angel One, Gensol Engineering, IndusInd Bank, IREDA, MGL
Capital markets regulator Sebi has issued an interim order against Gensol Engineering and its promoters -- Anmol Singh Jaggi and Puneet Singh Jaggi -- after finding issues of financial mismanagement and fund diversion.
IREDA shares rally 5% ahead of Q4 earnings announcement
IREDA shares: The rally comes in spite of recent volatility, with the stock falling 3% over the past five sessions. While shares have posted a modest 10% gain over the past month, IREDA remains under pressure in the longer term—down 31% over the last six months and 30% year-to-date.
PSU stocks give Rs 5 lakh crore fillip to BSE m-cap after 6-day rally; SBI, LIC shine
The top 10 contributors to market capitalization between March 17 and 24 included Hindustan Aeronautics (HAL), State Bank of India (SBI), Life Insurance Corporation (LIC), Indian Railway Finance Corporation (IRFC), NTPC, Oil & Natural Gas Corporation (ONGC), with their market capitalizations rising between Rs 49,155 crore and Rs 15,353 crore.
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Siemens India shares gain 4% as NCLT approves energy business demerger
Siemens India shares: Siemens reported a 21.5% YoY rise in net profit for the December quarter, reaching Rs 614.6 crore, up from Rs 505.7 crore last year. However, consolidated revenue fell 3.3% YoY to Rs 3,587.2 crore, compared to Rs 3,709.5 crore.
FY25 PSU stock performance worst in 3 years as 73% scrips fall up to 48%. Just 1 multibagger shines
PSU stocks are set to conclude FY25 weakly, marking their poorest performance in three years with 73% of stocks falling up to 48%. Mazagon Dock Shipbuilders stands out as the sole multibagger, while sectors like defence and power show potential for recovery. In FY26, investments in PSU theme will require a quality over quantity approach, with focus resting on stocks with strong fundamentals where performance justifies optimism.
IREDA shares in focus on approving Rs 5,000 cr fundraise via QIP
Shares of IREDA have risen by 7.90%. However, on a year-to-date (YTD) basis, the stock has dropped by 22.45%. In the last six months, the decline stands at 33.92%. Over the past three months, the price has decreased by 7.30%, and in the last month, it has fallen by 11.75%.
IREDA board approves fundraising of up to Rs 5,000 crore via QIP
IREDA shares were trading 1.5% lower at Rs 197.20 on the BSE following the announcement. The stock has experienced notable fluctuations, dropping nearly 27% over the past six months but rising over 32% in the last 12 months.
IREDA shares rise 1.1% as board announces meeting date for fund raise via QIP
IREDA shares rose by 1.1% to Rs 209.50 on news of a board meeting set for January 23, 2025, to approve fund-raising via Qualified Institutional Placement (QIP). IREDA announced a 27% YoY net profit increase to Rs 425.38 crore in Q3 FY25, with a 35.6% rise in revenue. Analysts give a 'Hold' recommendation with a target price of Rs 215.
IREDA stock rallies over 5% amid high volumes
IREDA share price: On January 9, IREDA announced its results for the quarter ending December 2024, reporting a 27% year-on-year (YoY) increase in net profit, which rose to Rs 425.38 crore from Rs 335.53 crore in the same period last year.
IREDA shares dip 3% after reporting Q3 results
IREDA share price: In Q3FY25, total revenue from operations rose by 35.6% year-on-year, reaching Rs 1,698.45 crore, compared to Rs 1,252.85 crore in the same quarter of the previous financial year.
Stocks to buy: TCS, Tata Elxsi and IREDA on investors' radar
Equity indices dropped nearly 1% due to heavy selling in major stocks. TCS fell 1.6%, Tata Elxsi declined 0.4%, and IREDA plummeted 3.4%. Analysts advise against purchasing TCS and Tata Elxsi but recommend buying IREDA with a target price of 245 and a stop loss at 208.
IREDA shares surge over 4% on govt nod for Rs 4,500 crore QIP
IREDA Share Price: Shares of Indian Renewable Energy Development Agency rose 4.4% on the BSE after receiving government approval to raise Rs 4,500 crore through a Qualified Institutions Placement. The company reported a net profit of Rs 384 crore for the June quarter, marking a 30% increase from the previous year.
IREDA shares zoom 9% after PAT jumps 30% YoY in Q1
Shares of IREDA rallied 9% to a fresh 52-week high of Rs 310 on BSE after the company reported a net profit of Rs 384 crore for the quarter ended June 30, 2024, compared to Rs 295 crore in the year-ago period.
Stocks in news: RIL, Wipro, HDFC Bank, UltraTech, IREDA
Shares of RIL, Hatsun Agro Products and Tejas Networks will be in focus as the companies will announce their fourth quarter results today.
IREDA shares rally 15% to double from IPO issue price in two days
The total gains in the two sessions stand at 115% over the issue price. The price action was aptly supported by volume action with over 14.46 crore shares changing hands on the NSE around 10 am.
IREDA trumps Street expectations with a robust debut. Is it a good long-term bet?
Despite solid listing gains, analysts are quite bullish on the stock from a long-term perspective. With India's ambitious renewable energy goals, they believe IREDA is well positioned to benefit from the opportunities in this space.
Solid Start! IREDA shares list at 56% premium over IPO price
Ahead of the listing, IREDA shares traded at a premium of Rs 12.25 in the unlisted market. The IPO received an overwhelming response from investors, having been oversubscribed by 38.8 times, reflecting investor sentiment about the company's strong fundamentals and growth potential. Analysts believe India has ambitious renewable energy goals and IREDA is well positioned as the largest green financing NBFC to tap into the rapidly expanding sector growth.
IREDA IPO share allotment likely to be finalised today. Here's how you can check status
On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE.
IREDA’s IPO offers a renewable play on climate needs, so does a crowd of peers
With a loan book size of Rs 47,515 crore, IREDA lends to the sole sector of renewable energy in India thereby making it the country’s largest pure-play green energy financer. It has significantly improved asset quality over the past three years. The lender operates in a high-growth sector given the government’s thrust on green energy. Given these factors and a reasonable valuation, long term investors may consider the IPO.
IREDA IPO to open on November 21, price band fixed at ?30-32/share
The initial public offer (IPO) of Indian Renewable Energy Development Agency (IREDA) will open for subscription on November 21 and close on November 23. It has fixed a price band of ?30-32 per share. Investors can bid for a minimum of 460 shares and in multiples of 460 thereafter. The government of India promoted company intends to raise as much as ?2,150 crore via the issue.
IREDA IPO to open on November 21, first PSU to go public since LIC
The IPO with a face value of Rs 10 consists of a fresh issue of up to 40.3 crore equity shares and an offer for sale (OFS) of up to 26.8 crore equity shares by the government. The price band for the issue will be announced soon.
IREDA reports all-time high Q1 net profit of Rs 295 cr; loan book grows to Rs 47,207 crore
State-owned Indian Renewable Energy Development Agency (IREDA) has posted a profit after tax (PAT) of Rs 295 crore for the June quarter on account healthy loan book. In a statement on Saturday, IREDA said it has "reported loan disbursement of Rs 3,173 crore with a growth of 272 per cent, all-time high quarterly PAT of Rs 295 crore, up 30 per cent. Loan book surged 44 per cent to Rs 47,207 crore as of June 30, 2023, showcasing a robust growth of 44 per cent."
IREDA to increase MSME participation in renewable energy by offering more loans
A major barrier for MSME entrepreneurs is the inability to get loans with reasonable interest rates.
IREDA to sanction Rs 13K crore loans for renewables in FY18
The lower cost of equipment and lower borrowing charges have already pulled down solar energy tariff to all time low of Rs 2.97 per unit last month.
IREDA's FY15 net profit edges up 13 per cent to Rs 272 crore
State-owned IREDA today said the company recorded a 13 per cent increase in its audited net profit at Rs 271.9 crore in 2014-15.
Govt earmarks Rs 1.5k cr for solar projects over next 2 yrs
The government would dole out Rs 1,500 crore over the next two years to banks and finance companies to lend money to solar energy projects.
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