IREDA stock has been on a course correction since hitting its all-time high of Rs 214.80 on the NSE on Tuesday, February 6. Today s price action was accompanied by strong volume action with more than 27.39 lakh shares changing hands around 11:20 am.
IREDA share price: The stock slipped 5 per cent to hit a lower circuit limit of Rs 189. At this price, it has declined 9.72 in two straight sessions. Despite the mentioned fall, the multibagger scrip has rallied 490.63 per cent from its initial public offering (IPO) issue price of Rs 32.
IREDA and Motisons Jewellers are among the top performers in recent listings, with their stocks trading 490% and 240% higher than their respective IPO prices. Signature Global, Cyient DLM, Netweb Technologies, EMS, and Utkarsh Small Finance Bank are also standout performers.
The BSE PSU index, reflecting the performance of public sector enterprises, surged by 1.2% to reach 16,698 points. Notably, it rebounded from the previous day s low of 15,838, marking a 5.2% recovery.