IREDA shares plunged 5% today; here's what existing investors can do

Shares of Indian Renewable Energy Development Agency (IREDA) continued their downward move for the third consecutive session on Friday. The stock slumped 5 per cent to hit a day low of Rs 166.35. Last checked, it was down 3.80 per cent at Rs 168.45. At this price, the scrip has lost 24.05 per cent in 2025 so far.

The state-run renewable energy financier recorded a 48.66 per cent year-on-year (YoY) jump in its consolidated net profit for the March 2025 quarter (Q4 FY25). During the quarter under review, profit came at Rs 501.55 crore as against Rs 337.39 crore in the corresponding period last year (Q4 FY24).

Revenue from operations climbed 36.93 per cent to Rs 1,905.06 crore in Q4 FY25 compared to Rs 1,391.26 crore in the year-ago period. The state-owned firm recently said its loan order book registered a 28 per cent (YoY) growth during the financial year 2024-25. In FY25, the figure stood at Rs 76,250 crore compared to Rs 59,698 crore in the March 2024 fiscal.

Last month, the company's board cleared a borrowing programme of up to Rs 30,800 crore for FY26. IREDA also mentioned that its borrowing limit was increased by Rs 5,000 crore to Rs 29,200 crore for FY25.

Technically, support on the counter could be seen at Rs 155, where existing investors should look for averaging. On the higher end, a decisive close above Rs 180 is required for further upside potential.

"Those holding should consider averaging the stock at around Rs 155 level for an initial target of Rs 180. We could see a further upside target of Rs 200 once it breaks above Rs 180. That said, investors should exit around Rs 200 level," Kkunal V Parar, Vice-President of Technical Research and Algo at Choice Broking, told Business Today.

"The stock was in corrective phase for almost 6-7 months. From a risk-reward point of view, the stock can be bought at current levels with major support around Rs 155-160, expecting an upside move towards Rs 200-220 levels," said Arpit Beriwal, Manager – Derivatives Analyst (Equity Research) at Motilal Oswal Financial Services.

The company is a 'Navratna' PSU under the administrative controls of the Ministry of New and Renewable Energy. As of March 2025, the government held a 75 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.