IREDA board approves borrowing programme for FY 2025-26. Details here | Stock Market News

State-run company Indian Renewable Energy Development Agency (IREDA) said on Tuesday, March 25, that its board has approved the borrowing programme for the upcoming financial year 2025-26 (FY26) to the tune of ₹30,800 crore.

“This is to inform that the Board of Directors of Indian Renewable Energy Development Agency Limited (IREDA) in its meeting held today i.e., Tuesday, March 25, 2025, inter-alia, has approved the Borrowing programme upto ₹30,800 crore for the FY 2025-26,” IREDA said in an exchange filing today after market closing hours.

The borrowing includes fund raising through various instruments like bonds, credit lines from international agencies, external commercial borrowing, different types of loans and other instruments.

Earlier this month, the company had announced the board’s approval for the enhancement of the borrowing programme for FY 2024-25 by ₹5,000 crore through various instruments, thus increasing the borrowing limit for the ongoing fiscal to ₹29,200 crore from ₹24,200 crore earlier.

IREDA shares in focus

Following this update, IREDA share price will be in focus in Wednesday’s trading session. The stock of the PSU company witnessed some profit taking today after a strong rally over the last two sessions, wherein it recorded gains of nearly 13%. It ended flat, with a negative bias, at ₹169.85 on the BSE. Meanwhile, so far this month, the stock has risen over 8% amid a rebound in the Indian stock market.

Analysts at Geojit Financial Services see more gains for the stock in the near term, supported by strong fundamental and technical triggers.

As per the brokerage, IREDA’s loan book has made a strong 36% growth to ₹68,960 crore in the first nine months of FY25, which has driven the PAT by 30.82% YoY to ₹1,197 crore in 9MFY25. IREDA’s asset quality also improved during the quarter and 9MFY25, with the Gross NPA ratio reducing to 2.68% from 2.90% as of 9MFY24. Further, the government of India’s plans to achieve 500 GW of non-fossil fuel energy capacity by 2030 highlight substantial scope for capacity expansion and financing needs, the brokerage added.

Meanwhile, on the technical front, Geojit Financial sees a short-term rebound for IREDA shares that have fallen 45% from their peak. “The momentum indicator RSI has rebounded from oversold levels and is currently positioned at 42, while the MACD has turned positive, indicating an improvement in momentum, which could support a short-term price rebound,” it said.

The stock may advance towards ₹155, which aligns with the 21-DMA and a key previous support level. A sustained breakout above the 21-DMA could further propel the price toward the ₹178–182 range in the coming sessions, it added.

The brokerage pegged IREDA’s share price target at ₹196, which it believes to be achievable in the next 3-6 months. However, it recommended a stop loss of ₹139 and a buying range of ₹153-156.

Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.