Buy IREDA, target price Rs 265: Anand Rathi
buy call on Indian Renewable Energy Development Agency (IREDA) with a target price of Rs 265. The current market price of IREDA is Rs 222.75. Indian Renewable Energy Development Agency, incorporated in 1987, is a Small Cap company with a market cap of Rs 60044.66 crore, operating in Term Lending Institutions sector.
IREDA's key Products/Revenue Segments include Interest, Other Operating Revenue, Fees & Commission Income and Income From Sale Of Share & Securities for the year ending 31-Mar-2023.
Financials For the quarter ended 30-09-2024, the company has reported a Standalone Total Income of Rs 1630.38 crore, up 7.92% from last quarter Total Income of Rs 1510.71 crore and up 38.52% from last year same quarter Total Income of Rs 1176.96 crore. The company has reported net profit after tax of Rs 387.75 crore in latest quarter.
Investment Rationale
From a strategic standpoint, investors may consider buying or accumulating IREDA within the 205-214 range, with a potential upside target of 265. To manage risk, Anand Rathi has recommended to maintain a stop-loss at Rs 180 on a daily closing basis.
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