Shares of Reliance Power Ltd continued their upward movement on Tuesday, rising 2.79% to ₹29.14 on the NSE, compared to the previous close of ₹28.35. The stock opened with a positive gap and touched an intraday high of ₹28.66, reflecting sustained buying interest in the counter amid ongoing market optimism.
The Anil Ambani-led ADAG group stock has been one of the notable performers in April 2026, gaining nearly 40% so far this month. The rally marks a sharp recovery from its March-end closing of ₹20.36 per share, indicating a strong shift in investor sentiment toward the company.
Market experts suggest that the recent surge in Reliance Power shares is not merely speculative but backed by improving fundamentals. A key trigger behind the rally is the company achieving a debt-free status, which has significantly enhanced investor confidence and attracted value buying at lower levels. This structural improvement in the balance sheet is being seen as a major turning point for the company.
Apart from fundamentals, technical momentum and expectations around the upcoming Q4 FY2026 results are also fueling the stock’s rise. Investors are actively positioning themselves ahead of the earnings announcement, looking for clarity on operational performance, earnings stability, and future growth outlook.
According to market analysts, while the trend remains positive, caution is still advised at current levels. Abhinav Tiwari of Bonanza noted that although the company shows signs of restructuring and a potential turnaround, investors should wait for confirmation through consistent earnings performance and improved cash flow visibility before taking fresh positions.
From a technical perspective, analysts highlight that the immediate resistance for Reliance Power shares lies in the ₹36–₹40 range, which has historically acted as a supply zone. A decisive breakout above this level could open the path toward ₹45 in the near term.
On the ownership front, the latest shareholding pattern for the March 2026 quarter shows limited promoter holding. Anil Ambani holds a 0.01% stake in the company, with similar holdings by Tina Ambani and Anmol Ambani, while Kokila D Ambani holds a slightly higher 0.02% stake.
Overall, Reliance Power’s share price movement today reflects a continuation of bullish momentum, driven by a mix of improving fundamentals, technical strength, and anticipation surrounding upcoming earnings. However, the sustainability of this rally will largely depend on the company’s ability to deliver consistent financial performance in the coming quarters.