IREDA share price rises 2% following THIS business update. Check details

Stock Market Today: IREDA share price gained more than 2% in the morning trades on Tuesday following THIS business update.

IREDA business update details

Indian Renewable Energy Development Agency Ltd., on Monday, post-market hours, reported its provisional business performance for the quarter ended June 30, 2025.

As per the Business Performance reported by IREDA, the total Loan Sanctioned by IREDA during the quarter was ₹11,740 crore during the April-June 2025 quarter, grew 29% year on year compared to ₹9,136 crore in the same quarter last year.

Loan disbursements, on the other hand, were at ₹6981 crore by IREDA during the April-June 2025 quarter, which marked 31% year-on-year growth when compared to ₹5,326 reported by IREDA.

IREDA also reported a very healthy order book at the end of the June quarter. The outstanding order book at the end of the June quarter was ₹79,960 crore. which was 27% higher year-on-year compared to the ₹63,207 crore reported by IREDA at the end of the June 2024 quarter.

IREDA other developments during the quarter

During the quarter gone by, IREDA has launched insolvency proceedings against Gensol Engineering and its subsidiaries to recover its outstanding loans. Following an around ₹510 crore loan default by Gensol, IREDA filed a case under Section 7 of the Insolvency and Bankruptcy Code, and the Ahmedabad bench of the National Company Law Tribunal (NCLT) has accepted it.

Further, IREDA used the QIP (qualified institutional placement) method to raise ₹2,000 crore during the quarter. The government now owns around a 71.76% stake in the company after the QIP.

IREDA share price movement

IREDA’s share price opened at ₹171.95 levels on the BSE on Tuesday. At the time of opening, the IREDA share was trading more than 1% higher than the previous session’s closing price of ₹170.10. IREDA share price thereafter gained further to touch intraday highs of ₹174.65, which meant gains of more than 2% for IREDA’s share price during the morning trades.

Disclaimer: 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.