By investing in IREDA you can make a lot of money from the growing Indian energy sector.

Investing in the stock market can be a great way to secure your financial future, and the renewable energy sector is a good one to consider. By investing in companies like IREDA (Indian Renewable Energy Development Agency Limited), you can support the renewable energy industry and benefit from its growth. In this article, we will know how you too can secure your future by investing in IREDA considering the growth in the growing renewable energy sector in the times to come.

What is IREDA?

IREDA is a public limited company under the Ministry of New and Renewable Energy (MNRE) that supports renewable energy projects across India. It has been accorded ‘Navratna’ status by the public sector undertakings, reflecting its prestigious status. Recently, it has also been included in IFSC at GIFT City, Gujarat, which has also increased its international recognition.

IREDA’s primary function is to provide financial support to renewable energy projects, making it the largest financier in this sector in India. This focus on renewable energy positions it as a key player in the country’s movement towards sustainable energy solutions.

Know what IREDA shares are

Recently, IREDA’s share price has risen, which could be interesting for investors. At the last close, the share price was ₹188.9, witnessing a slight increase. Investors should closely monitor these fluctuations to make informed decisions.

Today, the highest observed rate for IREDA stock is ₹194.45 while the lowest is ₹188.20. A few days ago, the IPO price was fixed at ₹32, which presents a good opportunity for investors. The company’s market capitalization is ₹50,785 crore with a 1-year high of ₹215 and a low of ₹49.

The trading volume for the day on BSE stood at 7,639,603 shares, reflecting an increase of 341.78% compared to the average volume of the last 20 days. Yesterday, NSE volume was 40 million shares and BSE volume was 7 million shares. This strong trading activity indicates strong investor interest and an increase in the stock price.

Investing in sustainable energy is a good decision

Renewable energy is seen as the future of energy that offers long-term benefits and is sustainable. Support for sustainable energy companies contributes to reducing the carbon footprint and combating climate change. As demand for renewable energy increases, the shares of these companies are likely to rise, providing good returns on investment. The renewable energy sector often receives government subsidies and incentives that can affect company performance and stock prices.