IREDA Share price jumped during early trades on the first trading day of year 2025. The stock touched intraday high of Rs 227.65 and was trading 3.4 percent higher at Rs 222 at the time of publication of this report. TopNews has reviewed the technical levels for the stock.

Overview: A Prominent Player in Renewable Energy Financing

IREDA’s stock opened at Rs 216.45, peaked at Rs 227.65, and hit a low of Rs 215.05 during the trading session. With a market capitalization of Rs 59.73K crore and a P/E ratio of 40.38, the company reflects robust fundamentals. The 52-week range spans Rs 100.20 to Rs 310.00, indicating substantial investor interest in a volatile yet promising sector.

IREDA Delivers Robust Performance in Q3FY25

Indian Renewable Energy Development Agency (IREDA) has showcased a stellar financial performance in the third quarter of FY25 (Q3FY25), underpinned by impressive growth in loan sanctions and disbursements. The company’s commitment to financing India’s renewable energy transition is reflected in its robust year-on-year (Y-o-Y) metrics.

Loan Sanctions Surge by 129% Y-o-Y

Loan sanctions witnessed an extraordinary growth of 129% Y-o-Y, soaring to Rs 31,087 crore in Q3FY25 compared to Rs 13,558 crore in the same period last fiscal year. This significant increase underscores IREDA’s expanding footprint in supporting green energy projects across India.

Disbursements Witness a 41% Jump

Loan disbursements rose 41% Y-o-Y, reaching Rs 17,236 crore in Q3FY25 from Rs 12,220 crore in Q3FY24. This surge highlights the agency's efficiency in translating loan approvals into actionable disbursements for renewable energy initiatives.

Outstanding Loan Book Expands by 36% Y-o-Y

The total outstanding loan book stood at Rs 69,000 crore in Q3FY25, marking a 36% growth compared to Rs 50,580 crore in Q3FY24. This impressive expansion reflects IREDA’s sustained efforts to bridge financing gaps in the renewable energy sector.

Financial Highlights and Analyst Recommendations

Consistent Growth: IREDA has shown steady growth, leveraging its position in renewable energy financing. The government’s increased focus on sustainable energy further strengthens its market position.
Analyst Sentiment: Recent reports suggest a positive outlook. Analysts anticipate a target price range of Rs 240–260, contingent on consistent financial performance and favorable government policies.

Technical Analysis: Candlestick Patterns

A review of the daily candlestick chart highlights the following patterns:

Bullish Reversal: A "Morning Star" pattern suggests potential upward momentum after a recent dip.
Support Zones: Strong support is visible at Rs 210, a crucial level to monitor.
Resistance Levels: Immediate resistance lies at Rs 230, with the next significant barrier at Rs 250.

Fibonacci Retracement Levels

Using the recent high of Rs 310 and the low of Rs 100.20, the Fibonacci retracement levels are calculated as follows:

Key Insights: The stock is currently trading near the 61.8% retracement level, often considered a strong support zone in technical analysis. A break above the 78.6% level (Rs 228.04) could trigger a bullish rally.

Support and Resistance Levels