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IREDA Shares: Shares of Navratna awarded company Indian Renewable Energy Development Agency i.e. IREDA rose 3.7 percent to Rs 155.59 on Tuesday. This rise in the company’s shares was seen after the excellent results of the September quarter. During this period, its profit increased by 42 percent. IREDA’s net profit increased from Rs 387.75 crore to Rs 549 crore in the second quarter of business year 2026 as compared to the same quarter last year.
The company earned a lot of profit
Total income increased by 26 percent to Rs 2,057.45 crore. The company’s profit before tax increased sharply to Rs 696 crore from Rs 460 crore a year ago. The company earned a profit of Rs 795.68 crore in the first half of the financial year 2026, which was Rs 771.42 crore in the same period a year ago, while the total income increased from Rs 3,141.08 crore to Rs 4,016.98 crore.
bad behavior on thursday
Heavy selling was seen in the company’s shares on the fourth trading day of the week i.e. Thursday. With this, the share closed at the level of Rs 153.10 on Thursday with a decline of 1.16 percent. The stock has declined by 30.97 percent so far this year. The 52-week high level of IREDA shares is Rs 234.35 and the 52-week low level is Rs 137.
To bet or not? What do experts say
Experts believe that the resistance level of IREDA shares is around Rs 157-160, but a breakout above Rs 163-168 can give it a boost in the short term. In such a situation, traders have been asked to wait for the breakout above the resistance level.
Osho Krishnan, senior analyst at Angel One, says, IREDA seems to be strengthening near its resistance level around Rs 140. It may face resistance below its 100-day exponential moving average (DEMA) and a rise in shares from Rs 160 level may give it a temporary boost.
According to the report of Business Today, SEBI registered analyst AR Ramachandran said, IREDA shares are adopting a bearish trend on the daily chart. Strong resistance is visible at Rs 158.7. If it closes below the support level of Rs 151.8, it may fall to Rs 141 in the near future.
Kunal Kamble, Senior Technical Analyst, Bonanza also said, currently IREDA is forming a double bottom pattern with a neckline around Rs 168. Breakout above this level can provide new business opportunities. The stock is trading above its 20 and 50 EMAs, but remains below 200 EMA at around Rs 163.98. This positivity indicates a short-term trend, whereas in the long term this trend has not yet moved towards bullishness. The momentum indicator has turned flat after a throwback, indicating weak momentum so traders should wait for a definite breakout above Rs 168 before taking new positions.
Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)
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