The stock of IREDA surged almost 13% to an intraday high of Rs 192.20 after the company was granted the status of Navratna status. 

“In pursuance to Regulation 30 of SEBI (Listing Operations and Disclosure Requirements) Regulations, 2015, this is to inform that Department of Public Enterprises (DPE) vide its letter dated April 26, 2024, has granted the ‘Navratna status’ to Indian Renewable Energy Development Agency Limited (IREDA),” said IREDA in an exchange filing. 

Earlier, IREDA was in the category of Miniratna with the likes of BEML, IRFC, BSNL, Hindustan Copper, and IRCTC among others.

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In the last five days, IREDA has risen 0.56% and 20% in the last month, calculated from the closing date of April 26. The railway has given a return of 184.4% in the last six months and 63.1% from year to date. 

To compare, the benchmark index NIfty 50 has risen 0.2% in the past five days. However, the index dipped 0.2% in the past month. The benchmark index has raised investors’ wealth by 17.13% in the past six months and 13.1% from year to date.