Shares of Reliance Power continued to remain in focus on Wednesday, with the stock trading at ₹27.59 on the NSE, up 1.06% for the day. Over the past one month, the Anil Ambani-led power stock has climbed nearly 7.43%, outperforming several broader market indices despite continued volatility and weak global cues weighing on investor sentiment. The rally in Reliance Power shares comes amid renewed buying interest in select power and infrastructure counters. The stock had surged sharply from around ₹20.36 to ₹28.58 during April 2026, delivering more than a 40% rally within the month.
According to market experts, the upmove in Reliance Power is being supported by improving fundamentals rather than speculative activity. Analysts believe the company’s debt-free status has emerged as a major positive trigger, attracting value buying at lower levels.
Technical analysts also remain optimistic on the stock’s outlook after a breakout above the crucial ₹20 level. Ganesh Dongre, Senior Manager – Technical Research at Anand Rathi, said Reliance Power has witnessed a strong trendline breakout on the weekly chart, indicating a possible long-term shift from a bearish to bullish trend.
He noted that the ₹20 mark now acts as a strong support zone, while the stock continues to trade above its breakout level, reflecting sustained positive momentum. According to Dongre, the immediate resistance zone for Reliance Power lies between ₹36 and ₹40, while a decisive breakout above these levels could potentially push the stock towards ₹45 in the coming sessions.
Analysts suggest traders may continue to accumulate the stock with strict risk management, citing favourable risk-reward dynamics at current levels. As per the company’s March 2026 quarter shareholding pattern, promoter holdings include stakes held by Anil Ambani, Tina Ambani, Anmol Ambani, and Kokila D Ambani.