Skip to main content

IREDA Share: Investors Beware! Stock Plummets by Over 28% in a Month

Indian Renewable Energy Development Agency (IREDA) has seen a significant decline of over 28% in its stock value in the past month. Today, the stock is trading with a 4% weakness. This decline comes following a recent development regarding IREDA's inclusion in several key indices by the National Stock Exchange (NSE), which has now been reversed.


The decision to exclude IREDA from these indices stems from non-compliance with SEBI portfolio construction rules, particularly related to equity exchange-traded funds (ETFs). NSE's statement indicates that IREDA violated these rules, leading to the reversal of its inclusion in the indices.

As per the earlier announcement by the Exchange's Index Maintenance Subcommittee (Equity), made on February 28, 2024, IREDA was slated to be included in various indices. However, following NSE's recent decision, IREDA will not be part of indices like Nifty 500, Nifty Midcap 150, Nifty Midcap 100, and others. Instead, stocks previously excluded from these indices will remain excluded, while others, like V-Guard Industries, will retain their inclusion.

IREDA's listing took place in November last year, with an issue price of ₹32 per share. Since then, it reached a high of ₹214.8 per share, a remarkable ascent within just 50 trading sessions. However, this peak has been followed by a significant decline, with the stock losing nearly 42% of its value.

Labels:

Comments

Post a Comment

Popular posts from this blog

Unlock the Future of Tech with Avalon Technologies IPO: Price, Date, Review, and Grey Market Premium! Stay Ahead of the Game with Latest GMP Analysis by Chanakya!

Get the latest insights into Avalon Technologies IPO, including its price, date, review, and grey market premium (GMP), in this informative article. Stay ahead of the game with GMP analysis by Chanakya and unlock the future of tech with Avalon Technologies. The tech industry is constantly evolving, and as investors, we're always on the lookout for the next big thing. That's why the upcoming Avalon Technologies IPO is generating so much buzz. This IPO promises to unlock the future of tech and offers investors an opportunity to get in on the ground floor of a game-changing company. In this article, we'll take a closer look at Avalon Technologies IPO and explore its price, date, review, and grey market premium. Avalon Technologies is a leading provider of innovative technology solutions. The company is known for its cutting-edge products and services that have revolutionized the way we interact with technology. The upcoming IPO promises to take the company to the next level by...
Post a Comment
Read more

Metal-Air Batteries: Powering the Future (Estimated Market Worth 2.8 Billion by 2034!)

Imagine a world where your phone never runs out of juice, your electric car charges in minutes, and even airplanes ditch fossil fuels. That's the potential of **metal-air batteries**. This innovative technology is grabbing attention for its impressive features: Long-lasting power: Unlike traditional batteries, metal-air batteries use oxygen from the air, giving them potentially endless energy as long as there's air! Faster charging: Say goodbye to hours of waiting! Metal-air batteries could significantly reduce charging times for your devices. Eco-friendly: These batteries are made with less harmful materials and avoid the need for frequent replacements, making them a greener choice. Why the Hype? A recent report by Future Market Insights predicts a huge boom in the metal-air battery market, reaching a value of **US 2.8 billion by 2034**. This growth is driven by several factors: Rising demand for electronics:  Our world is increasingly reliant on gadgets, and metal-air batteri...
Post a Comment
Read more

Government's discounted OFS announcement leads to HAL stock drop - Should investors be worried?

This article highlights the impact of the Indian government's announcement to sell a portion of its stake in the public sector defense company, Hindustan Aeronautics Limited (HAL), through an Offer for Sale (OFS) at a discounted rate compared to the market price. The OFS, which opened for institutional investors on Thursday, has caused a sharp decline in HAL's stock price. The article explores the reasons behind the decline and addresses investor concerns regarding this development. It also provides insights into the OFS details, including the option to retain oversubscription. The soaring flight of Hindustan Aeronautics' shares hit turbulence as the government's announcement of a sale of up to 3.5% at a discounted floor price caused a sharp decline in the stock price. Thursday was anything but smooth sailing for HAL investors. HAL stock plunges after government's OFS announcement! Is the government's HAL OFS causing panic among investors? HAL investors brace fo...
Post a Comment
Read more