IREDA Share Price a Hidden Gem for Long-Term Investors?
IREDA Share Price
In India’s renewable energy market, the Indian Renewable Energy Development Agency (IREDA) has become a major force. IREDA is positioned as a possible option for long-term investors due to its involvement in funding and promoting renewable projects as the country increases its focus on sustainable energy.
IREDA Share Price
Current Share Price Overview
As of November 22, 2024, IREDA’s share price stood at ₹185.50 on the National Stock Exchange (NSE) and ₹185.55 on the Bombay Stock Exchange (BSE). Over the past year, the stock has delivered a remarkable return of approximately 479.69%, reflecting growing investor confidence in the renewable energy sector
IREDA Share Price Targets
- Analysts have set ambitious goals for the price of IREDA’s stock:
- 2025: Due to IREDA’s strategic activities and the growing demand for renewable energy, projections indicate a possible range of ₹360 to ₹400.
- 2030: IREDA’s share price may rise between ₹1,020 to ₹1,900, indicating the company’s projected development in the sector, given India’s target of 500 GW of installed energy capacity based on non-fossil fuels by that year.
- Long-term projections suggest that, on the assumption of steady growth and advantageous market conditions, the share price might reach ₹4,288 in 2040.
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Market Performance and Forecasts
- With a 279.80% rise in the last year, IREDA’s stock has shown notable development.
- A price objective of ₹280.00 has been given by analysts, suggesting room for additional growth.
Investment Considerations
- Investors thinking about IREDA should pay attention to the following factors:
- Government Support: In line with the country’s goals for renewable energy, IREDA enjoys robust support from the Indian government.
- Sector Growth: Businesses like IREDA will have the chance to thrive as the renewable energy sector in India is set to experience significant expansion.
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