IREDA Target Price: Shares of government company IREDA continue to rise. Indian Renewable Energy Development Agency’s share price rose in June. Experts seem to be bullish on this stock. ICICI Direct considers this stock as a good option.
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What is the IREDA target price?
ICICI Direct has tagged the stock as ‘Buy’. The brokerage house believes that this stock can reach the level of Rs 250 in the next 12 months. The company’s share price has seen an increase of more than 7 percent today. The company’s intra-day high was Rs. is 209.85. Let us tell you that the 52-week high of the company is Rs 215. The company’s 52-week low is Rs 49.99.
77% increase in January
In the year 2024 till now IREDA shares have seen a 90 percent increase. If we talk about the last 3 months, the share price has increased by 43 percent. In February, IREDA’s share price saw a decline of 17.5 percent. At the same time, the share price fell 9.4 percent in March. Let us tell you that the share price of the company increased by 77 percent in January.
The IPO came in November last year
IREDA’s IPO came in November 2023. This was the second government company after LIC to have an IPO. The company’s IPO price band per share is Rs. 32 was determined. Since then, the company’s share price has seen an increase of 509 percent. The company was established in 1987. The total share of the government in the company was 75 percent.