IREDA shares jump 4% ahead of board meeting to consider borrowing plan for FY2025-26, ET BFSI
The shares of the Indian Renewable Energy Development Agency (IREDA) jumped 4% to their day’s excessive of Rs 176.80 on the BSE on March 25, forward of the corporate’s board assembly, which is scheduled later as we speak to think about issues associated to its borrowing plan for FY 2025-26.
“In compliance with Regulation 29 & 50(1) of SEBI (Itemizing and Disclosure Necessities) Laws 2015, that is to tell that the Board assembly of Indian Renewable Power Improvement Company Restricted shall be held on Tuesday, March 25, 2025, inter alia, to think about the matter concerning the Borrowing Plan for FY 2025-26,” the corporate had mentioned in a earlier submitting to the inventory exchanges.
Earlier final week, the corporate additionally permitted a Rs 5,000 crore enhancement to the borrowing program for FY 2024-25, to which the inventory had reacted positively.
Based on the official assertion, the extra borrowing shall be secured by a variety of devices, together with taxable bonds, subordinated Tier-II bonds, perpetual debt devices (PDI), time period loans from banks and monetary establishments, credit score traces from multilateral and bilateral companies, exterior business borrowings (ECBs), short-term loans, and dealing capital demand loans (WCDL) from banks.
With this approval in place, the overall borrowing restrict for FY 2024-25 has been raised from Rs 24,200 crore to Rs 29,200 crore.
Additionally learn: Many stocks erase selloff losses, in line for big upsides
Over the previous yr, the shares of IREDA have elevated by 22.65%, exhibiting sturdy annual progress. Nevertheless, on a 12 months-To-Date (YTD) foundation, there was a decline of 23.33%. Within the final six months, the value dropped by 25.22%, whereas over the previous three months, it declined by 15.40%. For the one-month interval, the value registered a slight lower of 1.13%.
(Disclaimer: Suggestions, ideas, views, and opinions given by the specialists are their very own. These don’t symbolize the views of The Financial Occasions)
