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Stocks of Indian Renewable Energy Development Agency, or IREDA, soared by as much as 10% on Wednesday after the company revealed plans to raise up to Rs 4,500 crore.

Now, this rally is pretty noteworthy because it comes right after a rough month where the stock tumbled over 20% from its peak.

But don't let that correction fool you—IREDA has been a goldmine for investors since its debut in November 2023.

The stock is up a staggering 700% from its IPO price and more than 400% from its listing price.

To put that into perspective, if you were lucky enough to snag just one lot of 460 shares in the IPO, your profit would be a cool Rs 1,07,500—assuming you cashed out at Wednesday's intraday high of Rs 265.7.

But what if you decide to hold on? Could the stock still have room to grow? To dig deeper into that and more, we’re joined by Akshay Bhagwat, Senior VP of Derivatives Research at JM Financial.
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