IREDA shares: Jump 3.94%, increases borrowing limit by Rs 5,000 crore for FY25
IREDA board approved the borrowing limit for FY25, raised from Rs 24,200 crore to Rs 29,200 crore.
New Delhi: State-run IREDA shares are under the spotlight since the board of the business has approved a Rs 5,000 crore increase in the borrowing programme for the present financial year. The business stated in an exchange filing that the same is via taxable bonds, sub-ordinated tier II bonds, perpetual debt instruments, term loans from banks and FI's, lines of credit from international agencies, external commercial borrowings, short-term loans and WCDL from the bank.
The borrowing limit of FY25 has been raised from Rs 24,200 crore to Rs 29,200 crore.
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The stock has shown notable activity gaining 3.48% on March 18, 2025. The surge came amid a six-day streak of declines, marking a potential trend reversal for the stock. During intraday trading, IREDA reached a high of Rs 143.3, reflecting a 3.77% increase.
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The Gross Non-Performing Assets (NPAs) of the IREDA rose 30.4% from the September quarter to Rs 1,845.5 crore, while the Net NPA got increased by 53.75% sequentially to Rs 1,024 crore. In percentage terms, Gross NPA stood at 2.68% from 2.19% in September, while Net NPA stood at 1.5% from 1.04% in September. Provision Coverage Ratio in the December quarter stood at 44.5% from 52.9% in the previous quarter. Shares of the stock gained 4.7% to hit an intraday high of Rs 144.75 apiece. The stock has declined 35% this year, so far.
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