Reliance Power Share Price | Rocket bullish signs in power share at Rs 39, note the target price – NSE: RPOWER
Reliance Power Share Price | On Wednesday, January 15, 2025, the stock market closed with a strong rise. The stock market has been rising for two consecutive days. National Stock Exchange's Nifty also closed at 23,213 points with a gain of 37 points and Sensex closed at 76,724 points with a gain of 224 points. Shares of Reliance Power Ltd were also marginally higher in the rally.
Reliance Power Limited Company Share Current Status
On Wednesday, January 15, 2025, shares of Reliance Power Limited were trading at Rs 39.20, up 0.82 percent. The shares of Reliance Power Limited Company had a 52-week high of Rs 53.64, while the stock had a 52-week low of Rs 19.40. The total market cap of Reliance Power Limited Company is currently Rs 15,759 crore. On Thursday (January 16, 2025), the stock was trading at Rs 41.2, up 4.99%. In the last one month, shares of Reliance Power Company have fallen by 17 percent. Reliance Power share valuation has fallen nearly 30 per cent from a high of Rs 53.64 in 2024.
Reliance Power Company's debt drastically reduced and balance sheet positive
Reliance Power shares have come back into focus over the last few years due to improving positive balance sheet. Interestingly, the huge decline in debt of Reliance Power Company has further increased the confidence of investors. Also, in recent years, Reliance Power Company has also received many contracts in the renewable energy sector, due to which share buying has increased.
Expert advice on Reliance Power shares
According to stock market analyst Dhvani Patel, Reliance Power Company shares are trading at a strong pace since 2023. Reliance Power shares have recently bounced back from channel support levels after falling 30 per cent from their recent highs. The stock of Reliance Power Company had fallen below the key technical index Bollinger Band for some time and then the stock bounced.
Reliance Power Share Target Price
Fresh buying by investors is being seen in the shares of Reliance Power Company. This buying trend is hinting at a possible reversal. Dhvani Patel said that Reliance Power shares can again rise rapidly and reach the target price of Rs 48.
FII increased stake in Reliance Power shares
FII has increased its stake in Reliance Power Limited Company. The stake in Reliance Power Company increased to 13.13 percent in the September 2024 quarter from 12.71 percent in the June 2024 quarter. The promoters' stake in Reliance Power Company is 23.26 percent, while insurance companies and mutual fund companies have about 3 percent stake.
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