IREDA shares rise 3% after securing JPY 26 billion ECB facility from SBI Tokyo, ET BFSI
Shares of Indian Renewable Energy Development Agency (IREDA) surged 3% to Rs 166.75 in Friday’s intraday commerce on the BSE after securing a JPY 26 billion (Rs 1,476 crore) External Commercial Borrowing (ECB) facility from SBI’s Tokyo department, together with a Inexperienced Shoe Possibility of JPY 10 billion.
The five-year unsecured facility, with a bullet fee at maturity, is predicted to strengthen IREDA’s world market presence. The landed price (after hedging) is estimated to be under 7%, making it cheaper than comparable home loans.
Pradip Kumar Das, Chairman & Managing Director of IREDA, stated, “This facility allows us to diversify our useful resource base and optimize prices, enhancing our lending operations to help India’s renewable vitality sector. The transaction displays the robust confidence of worldwide buyers in IREDA’s monetary stability and development potential.”
Earlier this week, IREDA authorized a Rs 30,800 crore borrowing plan for FY26 to strengthen renewable energy funding. The board sanctioned fund-raising by bonds and loans, together with inexperienced bonds and international forex loans, to draw each home and worldwide buyers.
Final week, the corporate launched its first perpetual bond concern, elevating Rs 1,247 crore at an annual coupon price of 8.4%. Perpetual bonds haven’t any maturity date, providing steady curiosity funds.
In keeping with Trendlyne information, the common goal worth of the inventory is Rs 209, exhibiting an upside of 27% from the present market worth. The consensus advice from 3 analysts for the inventory is a ‘Purchase.’
Technically, the inventory’s relative energy index (RSI) is at 51.1, indicating that it’s neither in oversold nor overbought territory. Moreover, the MACD stands at -6.4, which is under its centerline, indicating a bearish outlook.
The inventory is buying and selling above its 5-day, 10-day, 20-day, and 30-day easy shifting averages (SMAs) however stays under the 50-day, 100-day, 150-day, and 200-day SMAs.
IREDA shares efficiency
The inventory has declined 29% prior to now six months however surged 21% over the past 12 months. The corporate’s market capitalization stands at Rs 44,267 crore.
(Disclaimer: Suggestions, strategies, views and opinions given by the specialists are their very own. These don’t signify the views of the Financial Occasions)
