On Friday, the share price of the Indian Renewable Energy Development Agency (IREDA) experienced a notable surge, climbing nearly 4% amid robust buying activity. The shares reached a peak of ₹157.60 on the Bombay Stock Exchange (BSE), reflecting an encouraging trend for investors. This uptick in share value coincides with a significant increase in retail shareholders, showcasing growing interest in IREDA’s stock.
Retail Shareholding on the Rise
Recent data reveals that IREDA has attracted more retail investors than ever before. As of March 2024, the count of small shareholders has surged to over 2.6 million, totaling 26,48,952 individuals. These retail investors collectively hold a 20.25% stake in the company, an increase from 19.95% at the end of December 2023, when the number of retail shareholders stood at 25,88,186.
- Current Shareholding Breakdown:
- Retail shareholders: 26,48,952
- Stake held by retail investors: 20.25%
- Government shareholding: 75% (unchanged)
- Domestic mutual funds: 0.23% (down from 0.28%)
- Foreign Portfolio Investors (FPI): 1.75% (down from 1.85%)
Stock Performance Insights
Over the past month, IREDA’s stock has appreciated by 8.6%, but it has experienced a 23% decline over the last three months. Year-to-date, the shares have dropped by 30.5%, and they are down 32.5% over the past six months. Notably, in the past year, the stock has decreased by more than 7%.
Currently, IREDA’s stock is trading at nearly 50% lower than its 52-week peak of ₹310 per share. However, it remains over 15% higher than its 52-week low of ₹137.
Current Trading Status
As of 1:00 PM, IREDA shares were valued at ₹154.35, reflecting a 1.85% increase. This fluctuation indicates a healthy interest from investors in the renewable energy sector, particularly as the market continues to adapt to changing economic conditions.
In conclusion, IREDA’s rising retail shareholder count and fluctuating stock prices highlight a dynamic landscape for investors. With ongoing interest in renewable energy, it will be crucial for potential investors to monitor these developments closely.
