Reliance Power Shares Fall Over 50% from Peak, From ₹76.49 to ₹34 : Should You Buy Or Sell the Stock

Shares of Reliance Power have declined sharply, falling nearly 54 percent to ₹34.52 from their 52-week high of ₹76.49 recorded on June 11, 2025. The stock has remained under pressure amid a series of legal overhangs. From a technical perspective, analysts point to ₹30 as a crucial support level for the stock, while near-term resistance is seen in the ₹36–40 range. Jigar S. Patel, Senior Manager – Technical Research at Anand Rathi, said, “The stock has support at ₹30 and resistance at ₹40. A breakout above ₹40 could pave the way for a move towards ₹43, with the short-term trading band expected between ₹30 and ₹43.”

Despite the recent correction, Reliance Power has been in focus due to key business announcements. Through its subsidiary Reliance NU Suntech, the company has signed a 25-year power purchase agreement with the Solar Energy Corporation of India (SECI) for a 930 MW solar power project integrated with a 465 MW / 1,860 MWh battery energy storage system. This project, touted as the largest of its kind in Asia, is expected to involve an investment of approximately ₹10,000 crore over the next two years.

On the financial front, the company reported a net profit of ₹87 crore for the quarter ended September 30, supported by improved revenues. Total income during the quarter rose to ₹2,067 crore, compared with ₹1,963 crore in the corresponding period last year. Additionally, the board has approved seeking an enabling resolution from shareholders to raise up to $600 million through foreign currency convertible bonds to fund future growth initiatives.

Meanwhile, addressing concerns around ongoing legal matters, Reliance Power recently clarified the provisional attachment of assets worth ₹10,117 crore by the Enforcement Directorate under the Prevention of Money Laundering Act (PMLA). The company stated that assets worth ₹8,078 crore pertain to Reliance Communications Limited, which has not been part of the Reliance Group since 2019 and is currently undergoing corporate insolvency resolution proceedings under the supervision of the National Company Law Tribunal, with the committee of creditors led by State Bank of India. Reliance Power emphasized that its own operations continue as usual and reiterated its commitment to growth, operational excellence, and value creation for its more than 43 lakh shareholders. The company also clarified that Anil D. Ambani has not been on the board of Reliance Power for over three and a half years.