Shares of Anil Ambani’s Reliance Power rose by 1% after the ADAG group announced a fully owned subsidiary named GMR Kalinga Solar Power. This strategic move marks the company's entry into the solar power sector, potentially positioning it to capitalize on the growing demand for renewable energy sources.The stock opened at ₹37.00, with the day’s high reaching ₹37.53 and the low touching ₹36.83. The last traded price (LTP) stood at ₹37.15 as of 09:44:43 IST, marking a day change of 1.59% relative to the previous close of ₹37.04.
This development represents a notable shift in Reliance Power's business strategy, indicating the company's intent to establish a foothold in the solar energy market. By creating a dedicated subsidiary structure, Reliance Power appears to be setting the stage for focused investments and operations in solar power generation.The formation of GMR Kalinga Solar Power could potentially lead to new projects and initiatives in the solar energy sector, although specific details about planned activities or investments have not been disclosed at this time.
The shares have also witnessed a surge among potential buyers The break in the six-day losing streak could have triggered renewed buying interest, while the stock’s price hovering near the ₹37 mark might be attracting short-term traders seeking momentum plays. Reliance Power reported a net profit of Rs 87.32 crore in Q2FY26, compared to a loss of Rs 352 crore in Q2FY25. The company’s debt-to-equity ratio stood at 0.87, one of the lowest in the industry. The company also serviced debt worth Rs 634 crore during the quarter, underscoring its continued focus on reducing leverage. Its net worth at the end of Q2FY26 stood at Rs 16,516 crore.The EBITDA rose 64% year-on-year to Rs 618 crore from Rs 376 crore in Q2FY25. Total income for the quarter increased to Rs 2,067 crore from Rs 1,963 crore in Q2FY25.Its networth, during the reporting quarter, stood at ₹16,516 crore.