IREDA Share Price: Today, IREDA’s stock prices saw a decline. In a weak market, IREDA’s shares fell by 7 percent. On the BSE, the stock opened at 169.50 rupees but dropped 7.43 percent to reach 162.60 rupees. What advice are experts giving regarding IREDA’s stock performance?
IREDA Files for Corporate Insolvency
The National Company Law Tribunal (NCLT) Ahmedabad bench has accepted IREDA’s corporate insolvency resolution process (CIRP) application against Jensol Engineering Limited. Earlier, the NCLT Ahmedabad bench approved the Ministry of Corporate Affairs’ request to freeze the assets, bank accounts, and lockers of Jensol Engineering and 37 related entities following allegations of corporate fraud and mismanagement.
Government-owned IREDA has reserved 121,466,562 shares for qualified institutional buyers. These shares were allotted at 165.14 rupees each. The company has raised 20.06 billion rupees from qualified institutional buyers.
What Are Experts Saying? (IREDA Share Target Price)
According to a Business Today report, brokerage firm Anand Rathi stated in its report that 163 rupees is acting as a support price level. For the short term, the brokerage has set a target price range of 160 to 180 rupees. The stock is showing resistance at the 175 rupees level.
It is worth noting that the government’s stake in the company stood at 75 percent as of March 2025.
Disclaimer: This article is just for information. It should not be treated as investment advice in any way. Investing in the stock market is based on risk. Be sure to consult your financial advisor before investing in the stock market.
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