The stock faced some profit booking at those higher levels and tumbled to trade 1.4% lower at Rs 51.19 around 11:30 am.
Reliance Power witnessed strong volumes with a total traded quantity of 234.29 lakh shares, with a turnover of Rs 123.66 crore. The company’s total market capitalisation stood at Rs 20,562.87 crore.
Earlier this month, the company reported its Q4 FY25 results, which were well-received by investors. It posted a consolidated net profit of Rs 126 crore for the January–March quarter, compared to a net loss of Rs 397.56 crore in the same period last year. This was driven by a sharp decline in expenses.
On the fundamental side, Reliance Power is one of India’s largest power generation portfolios under development in private sector in India.
Further, the sentiment was boosted by technical factors. The stock on Friday alone surged by 18%, triggered by a ‘buy’ signal on the Supertrend indicator on the weekly charts, which is a positive sign for the bulls.Supertrend is a trend-following technical indicator that gauges the price direction of a stock, index, or other asset and issues corresponding buy or sell signals.Also read: Can NSE Clearing achieve financial independence before the NSE IPO?
Should you book profits in Reliance Power?
Aamar Deo Singh, Senior Vice President-Equity and Commodity & Currency at Angel One, noted how the stock of Reliance Power has rallied sharply in the last week.
“Investors would be well-advised to book part profit in the counter, as the moves have been very sharp,” Singh stated.
He advised to trail the balance below the technical level of Rs 45 for the stock.
Reliance Power share price history
Over the past one year, the stock of Reliance Power has delivered a strong return of 91.70%. On a year-to-date (YTD) basis, it has gained 14.30%. In the last six months, the stock rose by 40.07%, which is the same as the three-month performance, also at 40.07%.
Over the past month, the stock registered a gain of 23.48%, indicating sustained bullish momentum across timeframes.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
