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Renewable energy stock jumps 5% after it announces 129% YoY growth in loan sanctions

Indian renewable energy financing agency reported a 129% growth in loan sanctions to ₹31,087 crore for 2024. Loan disbursements and outstanding loans also significantly increased, underscoring its sector leadership.
Renewable Energy Stock Surges 5% After Reporting 129% YoY Growth in Loan Sanctions!
Renewable Energy Stock Surges 5% After Reporting 129% YoY Growth in Loan Sanctions!

Introduction:

Indian renewable energy financing agency has reported impressive growth for 2024, with loan sanctions rising 129% to ₹31,087 crore. Loan disbursements and outstanding loan books also significantly increased, highlighting its growing influence in the renewable energy sector.

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Share price movement of IREDA:

On January 1, 2025, Indian Renewable Energy Development Agency Ltd. opened at ₹217.45, up 1.05% from its previous close of ₹215.15. The stock reached a high of ₹227.70 (5.87%) and a low of ₹215.10. By 11:25 AM, it traded at ₹222.90, a 3.60% increase, with a market cap of ₹59,896.84 crore.

IREDA Reports Strong Business Growth:

Indian Renewable Energy Development Agency (IREDA) has announced impressive growth in its business performance up to December 31, 2024. Loan sanctions reached ₹31,087 crore, marking a remarkable 129% increase compared to the previous year.

The loan disbursements for the period stood at ₹17,236 crore, reflecting a 41% growth from ₹12,220 crore in 2023. This surge highlights IREDA’s active role in financing renewable energy projects and boosting the green energy sector in India.

IREDA’s loan book outstanding at the end of December 2024 amounted to ₹69,000 crore, a significant 36% rise from ₹50,580 crore last year. The agency continues strengthening its position as a leader in financing renewable energy projects across India.

Recent news on IREDA:

As of December 23, 2024, Indian Renewable Energy Development Agency (IREDA) won triple honours at the 14th PSE Excellence Awards. The company received Gold Awards for Corporate Governance and CSR, along with a Silver Award for Operational Performance Excellence.

Stock performance of IREDA for Period of 1 week, 6 months and 1 year:

The Indian Renewable Energy Development Agency (IREDA) has delivered a solid 7.11% return in the first week, a slight 5.94% decline over six months, and a robust 108% return over the past year, showcasing impressive long-term growth.

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Shareholding pattern of IREDA:

All values in %Sep 2024Jun 2024Mar 2024
Promoter75.00%75.00%75.00%
FII2.00%2.70%1.40%
DII0.40%0.40%1.00%
Public23%22%23%
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About IREDA:

Indian Renewable Energy Development Agency Ltd. (NSE: IREDA) is a leading financial institution in India’s renewable energy sector. With over 36 years of experience, it provides financial support for projects in wind, solar, hydro, biomass, and energy efficiency.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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