29 April: IREDA receives 'Navratna' status, enabling up to Rs 1,000 crore investment without prior approval.

Indian Renewable Energy Development Agency (IREDA) shares surged by 12% on 29 April after receiving the 'Navratna' status from the Department of Public Enterprises. The Navratna status allows IREDA to invest up to Rs 1,000 crore without prior government approval, boosting its business activities and potentially saving time and efforts. IREDA reported a net profit of Rs 337.38 crore in Q4 2024, an increase of 33.03% on a year-on-year basis, and a 34.3% increase in its topline.

April 29, 2024
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