IREDA shares rally 6% as Q3 loan disbursement jumps 41%

Indian Renewable Energy Development Agency or IREDA shares surged by 6% to Rs 227.70 following a strong Q3 update. Loan disbursements increased 41% YoY to Rs 17,236 crore, while loans sanctioned rose 129% YoY to Rs 31,087 crore. IREDA's outstanding loan book grew 36% YoY to Rs 69,000 crore. The stock, listed in November 2023, has delivered 113% returns but is down 28% from its 52-week high.