Indian Renewable Energy Dev Agency Ltd (NSE: IREDA) Share Price: The price of IREDA’s share is set to rise with particular attention paid to the renewable energy share space.
After the jump in Suzlon’s share yesterday, the share that belongs to IREDA (Indian Renewable Energy Development Authority) as well as SJVN are the focus of today’s trading.
In reality, following the conclusion of the deal for a new project, the share of both companies saw an impressive increase on Tuesday.
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IREDA Joins Hands With SJVN And GMR Energy
Indian Renewable Energy Development Agency (IREDA) has signed a Memorandum of Understanding with SJVN and GMR Energy for the development and operation of the 900-milliwatt Upper Karnali Hydroelectric Project in Nepal.
IREDA announced in a statement Monday that the goal of the collaboration is to improve regional energy security by the construction and implementation of renewable energy infrastructure.
Chief Executive Officer and Company Chairman Pradeep Kumar Das stated that the company’s decision to invest in this crucial hydropower project shows IREDA’s commitment to promoting projects that use renewable energies.
This collaboration will not only help Nepal develop its hydropower industry but also help strengthen the energy cooperation between regional regions. It will help us achieve our common aim of sustainable growth.
Rise In Shares
The impact of this news is evident in the price of these stocks on the market. IREDA has jumped to 6 percent during trading today and hit an intraday high of Rs 239.
It was trading at Rs 228. The stock also traded with gains of 3 percent. The stock reached a record-setting high of 131 rupees.
Concerning returns, IREDA’s performance has been exceptional for the last year. IREDA investors have earned an average return of 288 percent over the past year.
In the same way, the year has been a success so far that in just a little over eight months, the stock has seen an increase of 122 percent.
The stock has increased by 65 percent over six months. However, there was an environment that had been declining for a month, as the price had fallen by approximately 6 percent.
SJVN share has posted an increase of 39 percent over this year. The stock has earned 69 percent of its gains over one year.
But, there hasn’t been much movement regarding this stock over the last six months. The stock has increased by less than 9 percent.
However, it has declined around 8 percent in one month.
Quick Fact
| Company name | IREDA |
|---|---|
| Collaboration | SJVN, GMR Energy |
| Project | 900 MW Upper Karnali Hydroelectric Project |
| Location | Nepal |
| Aim | Improve regional energy security |
| CEO & Chairman | Pradeep Kumar Das |
| Commitment | Renewable energy projects |
| Today’s stock rise | 6% |
| Today’s intraday high | ₹239 |
| Today’s trading price | ₹228 |
| Stock Gain | 3% |
| Record high price | ₹131 |
| One-year return | 288% |
| 8-month gain | 122% |
| 6-month increase | 65% |
| 1-month decline | 6% |
Company name: SJVN
| Company name | SJVN |
|---|---|
| Collaboration | IREDA, GMR Energy |
| Project | 900 MW Upper Karnali Hydroelectric Project |
| Location | Nepal |
| Year-to-date increase | 39% |
| One-year gain | 69% |
| 6-month increase | Less than 9% |
| 1-month decline | Around 8% |
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