IREDA shares surge 5% on FY24 performance

Indian Renewable Energy Development Agency Limited (IREDA) shares surged 5% hitting the upper circuit on Tuesday.

The gains were backed by the strong business performance reported by IREDA for the quarter and year ended March 31, 2024, on a provisional basis.

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During the fiscal year 2023–2024, IREDA achieved record-breaking numbers, with the highest-ever loan sanctioned at Rs. 37,354 crore and loan disbursed at Rs. 25,089 crore.

According to details provided, the company’s Loan Book experienced an unprecedented increase of 26.71%, reaching Rs. 59,650 crore, as stated in the filing on the exchanges on Monday, after market hours.

As of 10:20 am the shares were trading 4.98% higher at ₹149.75 on NSE