Shares of Reliance Power Ltd continued their strong upward run for the third consecutive session on Monday. The stock jumped 7.98 per cent to hit a fresh one-year high of Rs 62.80. At this price, it has gained 24.48 per cent in three trading days.
RPower’s subsidiary, Reliance NU Energies, recently received the letter of award (LOA) from state-run SJVN Ltd for a 350 MW inter-state transmission system (ISTS)-connected solar power project coupled with a 175 MW/700 MWh battery energy storage system (BESS).
Before this, the company partnered with Bhutan’s Druk Holding and Investments (DHI) to develop India’s largest solar power project in a Rs 2,000 crore joint venture. The 500 megawatt (MW) project will be developed under a 50:50 partnership through a Build-Own-Operate (BOO) model.
Analysts remain largely positive on the counter, though one advised using trailing stop losses to protect gains.
Ravi Singh, SVP – Retail Research at Religare Broking, suggested that Rs 65 will be the next target price for the stock along with a stop loss placed at Rs 58 level.
Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, noted that RPower has been in a bullish spree for the fourth consecutive week. “The upward momentum is likely to persist, making it advisable to use trailing stop losses to maximise potential profits. The Rs 54-52 zone is likely to act as intermediate support,” he stated.
Jigar S Patel, Senior Manager (Technical Research Analyst at Anand Rathi), said, “Support will be at Rs 60 and resistance at Rs 65. A decisive move above Rs 65 level may trigger a further upside towards Rs 68. The expected trading range will be between Rs 58 and Rs 68 for the short term.”
The scrip traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 80.47. A level below 30 is defined as oversold while a value above 70 is considered overbought.
The company’s stock has a price-to-earnings (P/E) ratio of 386.88 against a price-to-book (P/B) value of 2.71. Earnings per share (EPS) stood at 0.16 with a return on equity (RoE) of 0.71. According to Trendlyne data, RPower has a one-year beta of 1.3, indicating high volatility.
Promoters held a 24.98 per cent stake in the Anil Ambani-led entity as of May 7, 2025.
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