On March 4th, 2024, the shares of Indian Renewable Energy Development Agency Limited (IREDA) experienced a selloff on the trading day, with the stock price plunging by a staggering 5.00% to close at ₹152.90. The sell-off was accompanied by a trading volume of 2,02,99,727.
The day began on a cautious note, with IREDA’s shares opening at ₹160.80, just shy of the previous day’s close of ₹160.90. However, the downward trajectory accelerated as the session progressed, with the stock hitting an intraday low of ₹152.85. There was a closing price of ₹152.90, a sharp decline from the previous day’s close.
Despite the substantial drop in share price, the traded value for the day reached an impressive ₹31,411.80 lakhs, highlighting the high liquidity and interest in IREDA’s shares among market participants. Nevertheless, the steep decline in the stock’s value translated into a substantial erosion of IREDA’s total market capitalization, which stood at ₹41,08,248.35 lakhs at the end of the trading session.
