Reliance Power Ltd. share price hit a near 10-year high on Tuesday, extending a two-session winning streak. The counter is the second highest in terms of returns in the Nifty Smallcap 100 index, returning 68% in year-to-date terms.
Anil Ambani-led Reliance Power shares rallied nearly 12% to touch a new high of Rs 72.23 apiece on Tuesday. This was after the shares rose over 5% on Monday. Shares had rallied over 6% in the last trading week.
In the last five sessions, the shares have risen 19.41%, while they have risen 75.77% since May.
Recently, Reliance NU Energy Pvt., an arm of Reliance Power, received a Letter of Award from SJVN Ltd. for a 350 MW inter-state transmission system-connected solar power project coupled with a 175 MW/700 MWh Battery Energy Storage System. This will add 600 MW of solar DC capacity and 700 MWh of battery energy storage system capacity to Reliance Power's portfolio.
After the order win, the company's total clean energy pipeline stands at 2.4 GW of Solar DC capacity and over 2.5 GWH of BESS capacity.
The reason why Reliance Power's shares are witnessing such an upsurge, says Kranthi Bathini of WealthMills Securities, is owing to sectoral tailwinds, given the power sector is in an uptrend. "Reliance Power has been a wealth destroyer in the past 15 years," he stated, asserting that the stock is suitable only for high-risk traders.
Reliance Power Share Price Today
The scrip rose as much as 11.78% to Rs 72.23 apiece, the highest level since Nov. 21, 2024. It pared gains to trade 10.65% higher at Rs 71.50 apiece, as of 02:00 p.m. This compares to a 0.09% advance in the NSE Nifty 50 Index.
It has risen 67.93% on a year-to-date basis, and 174.23% in the last 12 months. The relative strength index was at 69.76.
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