Reliance Power Shares Rise by 3% After Sharp Fall

Shares of Reliance Power rose by 3% a day after the stock witnessed selling pressure yesterday after the stock fell by 4% to close at Rs.33.66. The stock has nosedived by 50% over the last six months following ED action against the company, its subsidiaries. The company in their statement, stated that its subsidiaries and its employees acted bona-fidely and are victims of a fraud, forgery, cheating and conspiracy committed by the third parties.  Technically, a few analysts suggested that Rs 30 acts as a key support level for RPower, while the counter faces near-term resistance in the Rs 36–40 zone.

According to experts the stock is bearish but also oversold on daily charts with next support at Rs 29.92. Investors should buy only if a daily close is above the resistance of Rs 36.11, which could lead to an upside target of Rs 44 in the near term. "Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, noted, "The stock has support at Rs 30 and resistance at Rs 40. A breakout above Rs 40 could pave the way for a move towards Rs 43, with the short-term trading band expected between Rs 30 and Rs 43."

The Reliance Group company posted a consolidated net profit of ₹87.32 crore for the September quarter of FY26, compared to a loss of ₹352 crore it logged in the corresponding period of the previous fiscal year, it said in a media statement on Monday. The electric power generation firm witnessed a 12.17% YoY surge in its consolidated revenue from operations to ₹1,974.03 crore during the quarter under review. In the second quarter of the 2024-25 fiscal year (Q2FY25), it had clocked a revenue of ₹1,759.81 crore.

At an operational level, its EBITDA (earnings before interest, tax, depreciation, and amortisation), also known as operating profit, stood at ₹618 crore in Q2FY26, marking a 64% annual increase from ₹376 crore in the year-ago period. Reliance Power said that its debt-to-equity ratio, which was at 0.87, was among the lowest in the industry, adding that its debt servicing of ₹634 crore in the September FY26 quarter reflected “continued commitment to debt reduction”. Its networth, during the reporting quarter, stood at ₹16,516 crore.