The Indian Renewable Energy Development Agency (IREDA) is currently trading at Rs. 268.65, a rise of 11.25 points or 4.37% from its previous close of Rs. 257.40 on the BSE. The stock opened at Rs. 253.10 and has fluctuated between a high of Rs. 274.80 and a low of Rs. 251.15. A total of 9,776,177 shares have been traded so far.

This BSE group 'B' stock, with a face value of Rs. 10, hit a 52-week high of Rs. 310.00 on July 15, 2024, and a 52-week low of Rs. 49.99 on November 29, 2023. Over the past week, it has ranged between Rs. 310.00 and Rs. 251.15. The company's current market cap stands at Rs. 72,354.63 crore.

Promoter holdings are at 75.00%, with institutions holding 3.12% and non-institutions holding 21.88%.

IREDA has secured approval to invest up to Rs. 290 crore in equity, sharing 10% each in GMR Upper Karnali Hydro Power, Nepal, and Karnali Transmission Company, Nepal. This investment is part of a collaboration with SJVN to develop the 900 MW Upper Karnali Hydro-Electric Power Project in Nepal, pending approval from the Indian government and other regulatory authorities. The Board of Directors granted in-principle approval for this investment on July 16, 2024.

This investment underscores IREDA's commitment to enhancing renewable energy infrastructure and fostering international cooperation. The 900 MW project is a major step towards utilizing Nepal's hydropower potential, contributing to regional energy security and sustainable development.

Established in 1987 as a Non-Banking Financial Institution, IREDA is a public limited government company dedicated to promoting, developing, and financing projects related to new and renewable energy sources and energy efficiency/conservation, with the motto 'Energy For Ever'.