IREDA rally extends to seventh session...

Indian Renewable Energy Development Agency Limited (IREDA) gained 7.63% on November 9, 2026, reaching an intraday high of ₹119.83. The stock has advanced for seven consecutive sessions and recovered more than 21% from its October low. The recovery has come after the company’s Q2 performance. Standalone PAT increased 1% year on year to ₹554 crore, while revenue from operations rose 14% to ₹2,345 crore. Loan disbursements grew 31% to ₹10,579 crore. My view is that the improvement in disbursements and asset quality is more important than the short-term rally. Net NPAs declined to 1.08% from 1.97%, which supports the quality of the loan-book expansion. However, the stock remains below its previous 52-week high, so the recovery still needs confirmation. The next trigger is whether the improving loan growth and asset quality continue without a material rise in credit risk. Sustained operating improvement would provide stronger support for the recovery than price momentum alone. Stance: Improving fundamentals support the recovery, but confirmation from future asset-quality and growth data remains important. IREDA