On Wednesday, November 29, 2023, i.e. today, the shares of the Indian Renewable Energy Development Agency were offering a premium of 56 percent to the luck allottees of the IREDA IPO. Reportedly, the share of IREDA IPO is listed on the National Stock Exchange and Bombay Stock Exchange at Rs 50 per share levels to deliver more than 56 percent listing gain against the IREDA IPO price of Rs 30 to Rs 32 per share. Do you know what was the highest share price of Indian Renewable Energy Development Agency IPO intraday? Reportedly, the stock went on to hit the intraday high of Rs 55.85 per equity share on NSE to further extend its gains. If you are scrambling to the web regarding the same, we have given more imperative details regarding the same in the following sections. Scroll down.
Reportedly, the share price of IREDA extended its profit and hit an intraday high of Rs 55.85 per equity share on the National Stock Exchange, gauging approximately 75 percent gain against the upper price band of the public issue. The share price of IREDA witnessed a strong trade volume of around 10 crore today in pre-listing which further went upward to around 38.50 crore after one and half hours of IREDA share listing.
While reflecting on the share listing of IREDA IPO, the senior VP of Research at Mehta Equities, Prashanth Tapse said, “IRDEA solid listing was above street expectations. We believe post listing there would be a decent market for the shares as it had received an overwhelming response from all kinds of investors, especially from long-term funds. We also believe IREDA can act as a proxy play for the growth in the Indian renewable energy sector.” Continue reading this article for more information.
The founder of Kejriwal Research and Investment Services, Arun Kejriwal, advised the investors to hold IREDA shares despite enormous listing gains. He added “IREDA shares listed at 56 percent premium and the stock has managed to sustain above its listing price of Rs 50 apiece. Because of the huge trade volume of around 10 crore in the pre-listing. In fact, this state-owned PSU stock has managed to draw buyers post-listing as well. So, cautious investors are advised to hold the scrip maintaining stop loss at Rs 49.50 and it should trigger till Rs 49 apiece levels.” He sees IREDA shares as a long-term opportunity to hold and raid the growth. Stay tuned to this website.