This stock is a touchstone, know the details now

Multibagger Stocks: There was a stormy rise in the Indian stock market recently. For the first time this week, Sensex has crossed 75 thousand. Whereas, Nifty has also made a record of rise. Meanwhile, a stock in the market gave huge returns to the investors. The stock of Renewable Energy Development Agency Limited (IREDA) has given a return of 2.43 percent to investors in the last three trading days. Whereas, in the last four months the investors’ capital has increased three times. In such a situation, investors are rushing to buy the company’s stock. However, investing in stock market is subject to market risk. In such a situation, information should be taken from a financial advisor before investing. Let us know how this stock is performing.

How is the stock performing?

Last week, a jump of about 11 percent was seen in the company’s stock. The share had closed at Rs 176.45. Bombay Stock Exchange and National Stock Exchange have increased the circuit limit of stocks from five percent to 20 percent. The company’s stock has given a return of 24.02 percent to investors in one month. Whereas, in the last four months the stock has given a return of 177.08 percent to the investors. On November 29, 2023, the company’s stock price was only Rs 60. Which had reached Rs 214 on February 9. Let us tell you that the listing of the company’s stock took place on 29 November 2023. The company had fixed the price band of its IPO at Rs 30 to Rs 32. Whereas, it was listed at Rs 50.

Also Read: Companies of this sector got big relief, now they will not have to pay fine of lakhs

what does the company do

Renewable Energy Development Agency Limited (IREDA) is a government company. It was established in the year 1987. IREDA is an experienced financial institution that has been actively promoting, developing and providing financial assistance to new and renewable energy projects, as well as energy efficiency and conservation projects for over 36 years. The company offers a comprehensive range of financial products and related services from project concept to post-commissioning for renewable energy projects and other value chain activities such as equipment manufacturing and transmission. At present the market cap of the company is Rs 44.72 thousand crore.