IREDA Stock In Focus As FY27 MNRE MoU Sets Performance Targets While Shares Remain Near Their 52-Week Low
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IREDA stock is in focus after the company signed a performance-based MoU with MNRE for strategic targets for FY 2026-27. The stock is also trading close to its 52-week low.
Shares of Indian Renewable Energy Development Agency Limited (IREDA) are in focus after the company signed a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE).
The MoU will cover strategic targets for FY 2026-27. The agreement comes as the IREDA stock trades close to its 52-week low. On the Bombay Stock Exchange (BSE), the stock closed at ₹108.90, down 1.71% in Monday’s session. Its market capitalisation stood at ₹30,592 crore.
On Tuesday, 6 October 2026, at 9:36 am, IREDA shares were trading at ₹110.05, up 1.06% on the BSE. The stock opened at ₹110.50. It touched an intraday high and low of ₹110.50 and ₹109, respectively.
IREDA And MNRE Formalise The Agreement In New Delhi
IREDA and MNRE have formalised the agreement at Atal Akshay Urja Bhawan in New Delhi. Santosh Kumar Sarangi, Secretary, MNRE, and Dr Bijay Kumar Mohanty, Chairman and Managing Director (MD), IREDA, signed the MoU on Monday.
IREDA said the goals would guide its efforts during the financial year, with the company looking to contribute towards the broader objective of Viksit Bharat.
IREDA Stock Trades Below Key Moving Averages
The stock was trading near its 52-week low of ₹107.40, recorded on 16 September 2026.
From a technical perspective, the relative strength index (RSI) stood at 41, indicating that the stock was neither in the oversold nor overbought zone. It was also trading below its 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day and 200-day simple moving averages.
IREDA had previously touched a 52-week high of ₹158.75 on 15 October 2024.
About IREDA
IREDA is a Mini Ratna (Category-I) government enterprise under the administrative control of MNRE. The company has been involved in promoting, developing and providing financial assistance for new and renewable energy projects, along with energy efficiency and conservation projects, for more than 36 years.
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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