Shares of the Indian Renewable Energy Development Agency (IREDA) Ltd have continued their upward momentum, gaining for the second straight session on Monday. The stock rose 3% intraday, hitting a high of ₹178.50 before settling 1.85% higher at ₹176.50. This marks a 5.82% gain over two sessions. However, it’s important to note that despite this short-term rally, IREDA shares are still down 20.42% in calendar year 2025.
Market experts are viewing the ₹180–₹185 range as a significant resistance zone. A breakout above this level is deemed crucial for any further uptrend. According to Gaurav Sharma, Associate Vice-President and Head of Research at Globe Capital, only a decisive close above ₹180 can set the stage for the stock to potentially climb up to ₹230.
Meanwhile, Kunal Kamble, Senior Technical Analyst at Bonanza, recommends a “sell-on-rally” approach around the ₹170 level, warning of strong resistance near ₹185. Similarly, Shitij Gandhi of SMC Global Securities predicts the stock may continue to oscillate in a broad range between ₹140 and ₹180 in the near term.
Despite the technical resistance, IREDA’s fundamentals remain robust. The state-run renewable energy financier reported a 48.66% year-on-year (YoY) increase in consolidated net profit for the March 2025 quarter, reaching ₹501.55 crore compared to ₹337.39 crore in the same period last year. Revenue from operations also surged 36.93% YoY, climbing to ₹1,905.06 crore.
Further bolstering its financial performance, IREDA’s loan book witnessed a 28% YoY growth in FY25, rising to ₹76,250 crore from ₹59,698 crore in FY24. This expansion reflects strong demand for renewable energy financing and underlines the company’s growing relevance in the sector.
IREDA, a ‘Navratna’ Public Sector Undertaking under the Ministry of New and Renewable Energy, holds a critical position in India’s green energy ambitions. The government continues to hold a 75% stake in the firm, which provides a wide range of fund- and non-fund-based financial services for renewable energy projects — from inception to post-completion — including equipment manufacturing and transmission infrastructure.
While the fundamentals paint a promising picture, analysts advise investors to be cautious in the short term, watching for a technical breakout before betting on sustained upside.
