IREDA share price surged nearly 6 percent on 1st January after the state-owned company logged 41 percent loan disbursement growth in the December quarter.
Indian Renewable Energy Development Agency (IREDA) witnessed significant growth in loan disbursements, increasing by 41 percent YoY to Rs 17,236 crore from Rs 12,220 crore a year ago.
The stock touched an intraday high of Rs 227.65 per share on the NSE, rising 5.76 percent from its previous close.
As per provisional figures, IREDA sanctioned loans worth Rs 31,087 crore in the third quarter, marking an extraordinary 129 percent Year-on-Year (YoY) rise compared to Rs 13,558 crore in the corresponding period last year, according to a company statement.
"IREDA's outstanding performance reflects our unwavering commitment to driving India's renewable energy transition.
"The 129 per cent growth in loan sanctions underscores the increasing confidence of stakeholders in our capabilities and our pivotal role in supporting green energy projects," Pradip Kumar Das, Chairman and Managing Director of IREDA, said in the statement.
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