Shares of the Indian Renewable Energy Development Agency (IREDA) experienced a notable uptick following the announcement of a collaboration with the Indian Overseas Bank to jointly finance renewable energy projects.
The strategic alliance, aligned with India’s COP26 commitments, resulted in a positive market response with IREDA’s stock prices rising over 4% on the BSE and over 5% on the NSE.
While the partnership signals optimism for renewable energy financing, some financial analysts urge caution, citing concerns about IREDA’s earnings growth.