On the day of Budget 2024, Indian Renewable Energy Development Agency (IREDA) Ltd's shares continued their upward trajectory, reaching a new all-time high during Thursday's trading session. Opening at ₹183 apiece on the NSE, IREDA's share price surged to a record high of ₹190.85 per share. This surge translated to approximately a 500 percent return for investors who participated in the IREDA IPO and held their shares despite a strong listing premium. Market analysts attribute this rally in IREDA's share price to the positive implications of Budget 2024 for green and renewable energy companies. They anticipate that IREDA's share price may continue its upward trend, potentially reaching the ₹200 per share mark in the short term. Explaining the factors driving the rally in IREDA's share price, Sandeep Pandey, Founder & Director at Basav Capital, highlighted the government's announcement of a ₹11.10 lakh crore Capex and a 11.10 percent increase in fund allocation for the infrastructure sector in Budget 2024. This boost in funding is expected to benefit various sectors including banking, energy (especially green energy), and steel. Given IREDA's focus on the green energy segment and its strong fundamentals, analysts anticipate continued bullish momentum for the state-owned company's stock in the near future.