Shares of Indian Renewable Energy Development Agency (IREDA) Ltd edged up 0.17 per cent to settle at Rs 147.55. At this price, the stock has plunged 33.48 per cent on a year-to-date (YTD) basis.
Analysts see IREDA trading in a tight range, with support at Rs 140-145 and resistance around Rs 152-160. A breakout above Rs 152 could extend gains, while a close below Rs 145 may push the stock towards Rs 139.
“IREDA is witnessing a gradual recovery from an oversold zone, aligning with historical support levels in the Rs 140-137 range. The next resistance is expected around Rs 158-160, followed by a bearish gap in the Rs 163-167 band. The stock is likely to trade within this defined range in the near term,” said Osho Krishan, Senior Analyst – Technical & Derivative Research.
“On daily charts, IREDA shows a slightly bearish trend with strong resistance at Rs 152. A close below Rs 145 support could drag the stock towards Rs 139 in the near term,” observed Sebi-registered analyst AR Ramachandran.
Sharing a similar view on support and resistance, Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, stated that a decisive move above Rs 152 may open further upside towards Rs 156. He expects the stock to remain in the Rs 145-156 band in the short term.
Technically, the counter traded higher than the 10-day and 20-day simple moving averages (SMAs) but lower than the 5-day, 30-, 50-, 100-, 150-day and 200-day SMAs. Its 14-day relative strength index (RSI) came at 42.45. A level below 30 is defined as oversold while a value above 70 is considered overbought.
The scrip has a price-to-earnings (P/E) ratio of 27.02 against a price-to-book (P/B) value of 4.44. Earnings per share (EPS) stood at 5.46 with a return on equity (RoE) of 16.43. According to Trendlyne data, IREDA has a one-year beta of 1.6, indicating high volatility.
The company is a ‘Navratna’ PSU under the administrative control of the Ministry of New and Renewable Energy. As of June 2025, the government held a 71.76 per cent stake in it. The organisation offers financial products (fund- and non-fund-based) associated services, from project inception to post-completion, for renewable energy projects and related activities like equipment manufacturing and transmission.