Reliance Power shares climb 4% to hit one-year high; here's what analysts say

Shares of Reliance Power Ltd continued their upward move for the second consecutive session on Thursday. The stock climbed 4.04 per cent to hit a 52-week high of Rs 63.39. It was last seen trading 1.43 per cent up at Rs 61.80. At this price, the scrip has rallied 37.09 per cent in a month.

The company's subsidiary, Reliance NU Energies, recently informed bourses that it received the letter of award (LOA) from state-run SJVN Ltd for a 350 MW inter-state transmission system (ISTS)-connected solar power project coupled with a 175 MW/700 MWh battery energy storage system (BESS).

Before this, the company partnered with Bhutan's Druk Holding and Investments (DHI) to develop India's largest solar power project in a Rs 2,000 crore joint venture. The 500 megawatt (MW) project will be developed under a 50:50 partnership through a Build-Own-Operate (BOO) model.

Some market experts remained split in their views on the counter, with immediate support expected around Rs 60 level.

Jigar S Patel, Senior Manager (Technical Research Analyst at Anand Rathi), said, "Support will be at Rs 60 and resistance at Rs 65. A decisive move above Rs 65 level may trigger a further upside towards 68. The expected trading range will be between Rs 58 and Rs 68 for the short term."

Ravi Singh, Senior Vice-President of Retail Research at Religare Broking, said the stock could rise to Rs 65 level in the near term, which would act as an immediate resistance. He advised placing a stop loss at Rs 58.

Jatin Gedia of ShareKhan recommended that existing investors continue to ride the upward momentum while maintaining a trailing stop loss. "This is a high-risk, high-reward stock. Those looking to enter at current levels should place a stop loss at Rs 50," he told Business Today, adding that the stock could potentially rise to Rs 68–72 levels.

Sebi-registered independent research analyst AR Ramachandran mentioned that Reliance Power is slightly bearish but overbought on daily charts, advising investors to book profits at current levels.

The scrip traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 74.18. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The company's stock has a price-to-earnings (P/E) ratio of 385.75 against a price-to-book (P/B) value of 2.70. Earnings per share (EPS) stood at 0.16 with a return on equity (RoE) of 0.71. According to Trendlyne data, RPower has a one-year beta of 1.4, indicating high volatility.

Bourses BSE and NSE have put the securities of RPower under the short-term ASM (Additional Surveillance Measure) framework. Exchanges put stocks in short-term or long-term ASM frameworks to caution investors about high volatility in share prices.

Promoters held a 24.98 per cent stake in the Anil Ambani-led entity as of May 7, 2025.