Reliance Power shares traded higher on the second trading day of 2026, with the Reliance Group stock gaining around 1% to ₹35.25, compared with the previous close of ₹34.72. Broader markets also remained firm, with Indian equities poised to end the week on a positive note amid sustained momentum. The Nifty 50 rose over 100 points to trade above the 26,250 level, moving closer to its record high of 26,325, while the Sensex climbed more than 300 points to hover around 85,550. Energy stocks were also in focus, with the Nifty Energy index gaining about 1% to trade near the 36,000 mark. Reliance Power is a constituent of the sectoral index. Market participants noted that the ongoing phase of thin trading volumes is likely nearing its end. On the stock’s long-term performance, Reliance Power has gained about 48% over the past two years, surged 125% in three years, and delivered multibagger returns of nearly 846% over the last five years.
The stock has witnessed a sharp decline of nearly 50% over the past six months, largely following Enforcement Directorate (ED) action against the company and its subsidiaries. Responding to the developments, the company clarified that its subsidiaries and employees acted bona fide and claimed they were victims of fraud, forgery, cheating, and conspiracy allegedly committed by third parties.
From a technical standpoint, analysts point out that ₹30 remains a crucial support level, while the stock is facing immediate resistance in the ₹36–40 range. Experts believe the counter is bearish but oversold on daily charts, with the next support seen around ₹29.92. A sustained daily close above ₹36.11 could trigger a short-term upside towards ₹44. On the fundamentals front, the Reliance Group company reported a consolidated net profit of ₹87.32 crore in Q2FY26, reversing a loss of ₹352 crore in the same quarter last year. Consolidated revenue from operations rose 12.17% year-on-year to ₹1,974.03 crore, compared to ₹1,759.81 crore in Q2FY25. EBITDA stood at ₹618 crore, marking a 64% annual increase from ₹376 crore in the year-ago period. The company highlighted that its debt-to-equity ratio of 0.87 remains among the lowest in the sector, while debt servicing of ₹634 crore during the quarter underscored its continued focus on debt reduction. Net worth during the quarter stood at ₹16,516 crore.