Reliance Power Ltd. Stock Price Hit Fresh 52-Week High, Surged 45% In 5 Days

The share price of Reliance Power Limited hit a fresh 52-week high-level today, and gained sharply today, after the group's 45th Annual General Meeting. The company's Chairman announced wide scaled new ventures in its power and new energy business.

Reliance Power - NSE performance

In the early trading hours, Reliance Power's share price gained by upto 16% intra day today, on September 2. The current market price of Reliance Power closed at Rs. 22.20/share on NSE, up by 10.17%, till 2.43 pm. In the last 5 days, its share price up by 45.10% on NSE, and in the last 1 month, its share price has surged by 70.77%. In the past 6 months it has gained 68.82%, and in last 1 year its share price has gained by 90.56%. In 2022, share price of Reliance Power gained sharply by 55.79%.

Recommendation to buy RIL stock

Investors are keen to buy this midcap stock expecting significant returns in the near term, as the company is aggressively investing in its power and energy business. Along with the telecom segment, power is at the top focus list of RIL.

The 52-week high level of this stock is Rs. 23.75, and the 52-week low level of this stock is Rs. 10.95.

Market capitalization	Current market price	6 Months performance	1 Year performance
Rs. 7,480 crore	Rs. 22.20	68.82%	90.56%

Financial results

According to data available with NSE, in Q4 FY22, the company's total income stood at Rs. 4,048 lakh, as against Rs. 4,117 lakh in the previous quarter. The company's profit before tax or PBT was reported at Rs. - 6,918 lakh in Q4 FY22, as against Rs. -6,771 lakh in Q3 FY22. The company's net profit was reported at Rs. -6,918 lakh in Q4 FY22, as against Rs. -6,771 lakh in Q3 FY22.

RIL is set to maximizing Oil to Chemicals integration and converting advantageous feedstock streams to high-value chemicals and green materials. Mukesh Ambani stated that over the next 5 years, RIL will invest Rs. 75,000 crore and expand capacities in existing and new value chains.

Disclaimer

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