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highlights
Upper circuit was imposed in IREDA shares on Thursday.
There has been a strong rise since its listing.
There has been an increase of 66 percent in a month.
New Delhi. Shares of government company, Indian Renewable Energy Development Agency (IREDA) have been in great form since listing. The company’s shares are making new records every day. In the last trading session i.e. on January 25, IREDA shares made its new life time high of Rs 169.80. The recent turmoil in the stock market has not affected this stock. This stock has risen 38 percent in the last five trading sessions alone.
A share of IREDA jumped 4.98 per cent in Thursday’s trade and reached a new high of Rs 169.80. This is the new lifetime high level of IREDA shares. In yesterday’s trading it opened at Rs 167 with a strong rise. Within some time, upper circuit was formed above it and it reached the level of Rs 169.80 with a rise of about 5 percent.
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Why did the stock rise?
IREDA is also among the stocks which have benefited the most from the recent rally in government shares. Recently, Prime Minister Narendra Modi has announced the launch of PM Suryodaya Yojana to promote solar energy in the country. Experts believe that IREDA shares are benefiting from this announcement.
Reached Rs 169.80 from Rs 50
IREDA’s shares were listed at Rs 50 on November 29, 2023. This share has been gaining tremendous momentum since its listing. In the last one month alone, this stock has gained 66.55 percent. IREDA shares have jumped 62.26 percent in January 2024. IREDA’s IPO came in November last year itself. The price band of the IPO was Rs 30-32 per share.
Money increased five times in two months
If we look at the upper price band of IREDA IPO of Rs 32, then this share has given 430 percent return since the IPO. In other words, it has given more than 5 times returns to investors in just two months. If someone had invested Rs 1 lakh in its IPO, today the value of his investment would have increased to Rs 5 lakh 30 thousand.
(Disclaimer: The information given here is based on the performance of the shares. Since investing in the stock market is subject to market risk, please consult a certified investment advisor before investing. News18 Hindi is responsible for any loss you may incur. Will not done.)
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Tag: business news in hindi, multibagger stock, Share Market
first published : January 26, 2024, 5:31 pm IST
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