IREDA managed to close in the positive for third trading session and the public sector energy major witnessed intraday high at Rs 187.70. Indian markets were trading negative today and this led to a decline in IREDA stock price by the end of the trading session. The positive momentum on IREDA continued with the stock closing 1.3 percent higher at Rs 176. IREDA has recovered almost 10 percent from low of Rs 160 touched earlier this week. The stock could see further gains during the next week. However, markets could see another selling on Monday as global markets have turned bearish today with US stocks losing after consumer confidence was reported lower during the US trading session. IREDA remains highly volatile and we could still see higher levels on this counter. TopNews team has reviewed technical levels that traders should closely watch.

Technical Analysis

Candlestick Patterns

A review of IREDA's daily candlestick chart reveals the formation of a 'Doji' pattern on February 20, 2025. This pattern, characterized by nearly equal opening and closing prices, suggests market indecision and potential trend reversal. Investors should monitor subsequent sessions for confirmation before making trading decisions.

Fibonacci Retracement Levels

Applying Fibonacci retracement analysis from the 52-week high of ₹310.00 to the recent low of ₹121.05, key levels are identified as follows:

38.2% Retracement: ₹202.23
50% Retracement: ₹215.53
61.8% Retracement: ₹228.83
The stock is currently trading below the 38.2% retracement level, indicating potential resistance ahead. A sustained move above ₹202.23 could signal bullish momentum, while failure to do so may lead to retesting lower support levels.

Support and Resistance Levels

Immediate Support: ₹160.91
Immediate Resistance: ₹186.49
Breaching the support at ₹160.91 may lead to further downside, whereas surpassing the resistance at ₹186.49 could pave the way for upward movement toward the ₹202.11 mark.

Analyst Insights

Recent analyst reports present a mixed outlook for IREDA. According to data from Alpha Spread, the average 1-year price target is ₹219.3, with forecasts ranging between ₹151.5 and ₹294. This suggests a potential upside of approximately 24.6% from the current price. However, investors should consider the inherent uncertainties in such projections and conduct thorough due diligence.

IREDA to Raise ₹1,500 Crore Through 11-Year Bonds

Indian Renewable Energy Development Agency (IREDA) is set to strengthen its financial position by issuing bonds with an 11-year maturity to raise up to ₹1,500 crore, according to Bloomberg. This strategic fundraising initiative aims to support the company’s growth and expansion in the renewable energy sector. The bonds will be available in the market on February 24, offering investors a long-term investment opportunity.

NSE to Launch Futures and Options Contracts on IREDA

In a significant development, the National Stock Exchange (NSE) has announced the introduction of futures and options (F&O) contracts on IREDA, effective February 28. This move will enhance market participation and provide investors with more flexibility in trading the company’s stock. The rollout is subject to eligibility conditions, and NSE will disclose important details such as market lot sizes, strike price schemes, and quantity freeze limits on February 27.

IREDA Subsidiary Secures Key Approval for Operations in GIFT City

Further expanding its footprint, IREDA’s wholly-owned subsidiary, Ireda Global Green Energy Finance IFSC Ltd., has received a registration certificate from the International Financial Services Centre Authority (IFSCA). The approval, granted on February 18, enables the subsidiary to operate as a finance company in GIFT City, Gujarat—India’s emerging hub for global financial services. This milestone marks a significant step in IREDA’s journey toward strengthening its presence in international green energy finance.

With these recent developments, IREDA continues to reinforce its leadership in the renewable energy financing space, attracting both investors and stakeholders with its strategic initiatives and growth-focused approach.