IREDA shares fall 20% in 2 days as PhillipCapital predicts 60% dip

Shares of Indian Renewable Energy Development Agency (IREDA) fell around 7.5% on Thursday, extending their losses from Tuesday's session. The stock has so far fallen 20% in two sessions after hitting an all-time high of ₹310 on Monday. This comes after domestic brokerage PhillipCapital gave a 'sell' tag to the stock, predicting a downside potential of about 60%.