Following the announcement of Q1 2025 results on Thursday evening, the Navratna stocks witnessed a massive sell-off in early morning deals on Friday. IREDA shares opened lower at ₹161 per share on the NSE and touched a low of ₹160 per share within minutes of the opening bell, marking a decline of over 4 per cent from the previous day's closing price of ₹169.64 per share.
IREDA share price: Navratna PSU stock drops 4% after Q1 2025 results
According to stock market experts, IREDA shares are falling due to the disappointing Q1 2025 results announced after market close yesterday. However, they believe that IREDA shares are still one of the best stocks to hold for the long term. He said that IREDA share price has a strong crucial support at ₹ 150 and advised buy on dips strategy to those who are looking for an opportunity to buy at lower levels during this IREDA share price decline.
IREDA Share Price Target
Expecting a bounce in IREDA shares, Sumeet Bagadia, Executive Director, Choice Broking said, "IREDA share price has strong support at ₹ 150 and ₹ 130. Hence, one should maintain a buy on dips strategy till the Navratna PSU stock moves above ₹ 150."
The technical expert said that IREDA share price may bounce back soon and touch ₹ 185. However, he advised to place a strict stop loss at ₹ 130 while making fresh purchases in the stock.
IREDA Q1 results 2025
The Navaratna PSU announced its first quarter results for the financial year 2025-26 on Thursday evening. In the April to June 2025 quarter, the state-owned company's net profit declined 35.1% to ₹246.68 crore as against ₹383.7 crore in the same quarter last year.
IREDA's operating revenue grew by nearly 29 per cent to ₹1,947.29 crore in the quarter ended June 30, 2025, as against ₹1,510.27 crore in the same quarter last year.
The Navratna PSU company also regretted the bankruptcy of Gensol Engineering, adding that the matter was investigated by an internal investigation committee, and based on SEBI's interim report, a complaint was filed with the Economic Offences Wing (EOW) of Delhi Police for falsification of documents submitted by the borrower to rating agencies and misappropriation of funds.
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