Reliance Power shares plummet 11% in 2 days amid profit booking from 52-week high
Shares of
Reliance Power
fell 11% over two sessions to hit a low of Rs 61.08 on the BSE on Thursday, as investors booked profits after the stock touched a fresh 52-week high of Rs 76.49 on June 11.
As of 11 am on Thursday, 138.46 lakh shares of Reliance Power had changed hands on the BSE with a total turnover of Rs 96.01 crore. The total market capitalisation of the company stood at nearly Rs 28.5 thousand crore.
Reliance Power stock had witnessed a powerful rally in the last month, having surged a massive 106.7% from a low of Rs 37 on May 9, to hit its 52-week high in the previous trading session.
Last month, Reliance NU Suntech, a subsidiary of Reliance Power, signed a 25-year Power Purchase Agreement (PPA) with SECI for Asia's largest single-location solar and battery energy storage system (BESS) project. The project will include 930 MW of solar capacity combined with 465 MW/1,860 MWh of BESS, and will be developed over a 24-month period with an estimated investment of up to Rs 10,000 crore.
Separately, another subsidiary, Reliance NU Energies, has recently secured a 350 MW solar-BESS project from
SJVN
and signed a commercial term sheet with Bhutan's Druk Holding and Investments Ltd to jointly develop Bhutan's largest solar power project.
Live Events
The company's financial position has also strengthened. In May 2025, Reliance Power raised Rs 348.15 crore through preferential allotments, issuing 9.55 crore equity shares to its promoter
Reliance Infrastructure
and 1 crore shares to Basera Home Finance Private Ltd.
Also read:
How 50 Bajaj Finance shares will turn into 500 by June 27. Explained
For the March quarter of FY25, Reliance Power reported a consolidated net profit of Rs 126 crore, marking a turnaround from a net loss of Rs 397.56 crore in the same period last year. This recovery was driven by cost rationalisation measures and the equity infusion from its promoter and a public investor.
Additionally, the company received interim relief from the Delhi High Court in connection with a debarment order issued by SECI last year, enabling it to once again participate in new tenders.
Reliance Power technical indicators
Despite the fall in the last 2 trading sessions, the shares of Reliance Power are placed well above all their short, medium and long-term exponential moving averages (EMAs).
Further, according to the Trendlyne data, the stock is placed near the 82 mark on the relative strength indicator (RSI). RSI above 80 is considered strongly overbought.
(
Disclaimer
: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
21 minutes ago
- Time of India
Delhi Assembly to go fully digital by July; Kiren Rijiju lays foundation stone for e-Vidhan project
The Delhi Assembly is set to become fully paperless by July under the National e-Vidhan Application (NeVA), as Union Parliamentary Affairs Minister Kiren Rijiju on Saturday laid the foundation stone for the e-Vidhan project . The initiative is a part of the Centre's 'One Nation, One Application' drive aimed at digitising legislative processes across states. The event held at the assembly premises marked a major milestone in Delhi's transition to digital governance and environmental responsibility. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More Undo Delhi Chief Minister Rekha Gupta, Assembly Speaker Vijender Gupta, Deputy Speaker Mohan Singh Bisht, Environment Minister Manjinder Singh Sirsa, Chief Whip Abhay Verma and other dignitaries attended the event. The programme commenced with a minute of silence for the victims of the recent Ahmedabad plane crash. Live Events "The laying of the foundation stone for the e-Vidhan project at the Delhi Legislative Assembly is a commendable step towards adopting technology for legislative efficiency and transparency," said Rijiju speaking at the event. "I want to see the Delhi Assembly as a model assembly and this initiative will certainly help in achieving that goal," he added. Rijiju emphasized that beyond going paperless, the project aims to enhance transparency, digital security and public participation. "Given Delhi's unique and complex administrative structure, this digital transformation carries special relevance," he said. The speaker described the initiative as a "historic milestone" and announced that plans are already underway to turn the Delhi Assembly into a green, tech-enabled and culturally vibrant institution. "As Delhi moves towards becoming the first assembly powered entirely by renewable energy, the e-Vidhan initiative is setting new benchmarks in digital democracy and environmentally conscious legislative practices," he said. Gupta also noted that a tripartite MoU was signed between the Ministry of Parliamentary Affairs, the GNCTD and the Delhi Legislative Assembly Secretariat on March 22, 2025. Over Rs 9 crore in grants have been received under the NeVA project, with more than Rs 1 crore released as the first instalment. A 500-kilowatt solar project is being installed to power the Delhi Assembly, which is on track to become the first in India to run completely on renewable energy. The plans are also in place to upgrade the assembly's infrastructure, including the renovation of the House before the Monsoon Session, the creation of a modern e-library and the transformation of the historic assembly premises into a cultural and heritage site. "This was once the site of India's first Parliament. We now plan to establish a legislative museum, guided tours and interactive exhibits with help from the IGNCA and the National Archives," said Gupta. The chief minister highlighted the ecological and governance benefits of the project. "One tonne of recycled paper saves 17 trees. With this step, the Delhi Assembly is moving towards sustainability and efficiency. The e-Vidhan project marks a significant leap towards strengthening transparency, efficiency and environmental responsibility," said Gupta. She also pointed out the contrast with the previous government's resistance to central reforms. "Under the BJP's administration, a new reform is introduced every day. First the solar system and now a paperless assembly," she added. Bisht on his part hailed the project as a decisive step in transforming the Delhi Assembly into a "technologically empowered and transparent institution". The e-Vidhan system will allow digital access to bills, reports, legislative questions, real-time updates of proceedings and paperless documentation streamlining governance while reducing environmental impact.
Time of India
21 minutes ago
- Time of India
Union Minister Khattar reviews progress of Fatehabad nuclear power project
Union Power Minister Manohar Lal Khattar on Saturday reviewed the progress of the nuclear power project being implemented by NPCIL under the Department of Atomic Energy in Haryana's Fatehabad district. Khattar, along with Chief Minister Nayab Singh Saini, visited the Gorakhpur Haryana Anu Vidyut Pariyojana (GHAVP) and reviewed the progress of North India's first nuclear power plant. Once completed, 50 per cent of the electricity generated will be allocated to Haryana. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 임플란트 최대 할인 지원해드려요 임플란터 더 알아보기 Undo Khattar appreciated the efforts of Nuclear Power Corporation of India Limited (NPCIL) and reiterated the importance of nuclear power in achieving clean, safe, and reliable energy for the nation's future. Senior government officials were also present at the event. Live Events The project involves setting up 4x700 MWe Pressurised Heavy Water Reactors (PHWRs) at a total project cost of Rs 41,594 crore. The commercial operation is expected to start by March 2031. "This ambitious project will not only meet the long-term energy needs of Haryana and North India but will also further strengthen India's commitment towards clean and sustainable energy solutions," Khattar said in a post on X in Hindi. The minister said projects like GHAVP will play a vital role in helping India achieve its net zero emission target by 2070. "This project is a visionary step towards making India a leader in the field of nuclear energy technology and ensuring energy self-sufficiency under the leadership of Prime Minister Narendra Modi," Khattar said. Speaking to the media later, Khattar said that unit one and two are now expected to be operational by 2031. "By 2031, two power units will become operational and in 2032, two more power plants will become operational. These four units will produce 2,800 MW power, out of which Haryana will get 50 per cent of the power and 50 per cent will go to the central pool so that it can be used wherever needed," Khattar said. Khattar said, "In January 2014, the project was given clearance. Generally, the time period given for setting up nuclear power plants is thirteen to thirteen-and-a-half years, but I was told that there have been some reasons for delay, which include technical and administrative reasons". Asked about his recent statement that the government is working on a framework to standardise the default temperatures of air conditioners in the range of 20 to 28 degrees Celsius. He said many feel consumers will benefit from the move and it will also result in power saving and uninterrupted and reliable power supply. Saving power is necessary. Last year's peak power demand was 250 gigawatt and we have touched 242 gigawatt till June 13. Meanwhile, Khattar was apprised by the officials of NPCIL's Corporate Social Responsibility (CSR) initiatives. Nearly Rs 80 crore has been spent on community development activities like the construction of roads, and schools, provision of medical vans, and development of an astro turf hockey ground, an official statement said. "Atom on Wheels" mobile exhibition van was highlighted as a key outreach initiative to educate and engage the public on nuclear energy and safety. Meanwhile, according to a Haryana government statement, Chief Minister Saini reviewed the progress of the ongoing construction works at the project site and directed the officers to complete all works as per the prescribed standards at the earliest. Saini emphasized that nuclear energy is a better source of power generation from an environmental point of view. According to the statement, in the review meeting, Jivendra Kumar Jain, Project Director of NPCIL, gave a detailed presentation about the project. The statement said that during the meeting Union Minister Khattar stated that this ambitious project will not only fulfill the long-term energy needs of Haryana but also benefit the entire northern region of the country. During the review meeting, the Union Minister received detailed information about the ongoing construction works and instructed officers to ensure timely completion in accordance with established safety standards. He emphasized the importance of raising public awareness about nuclear safety, so that there are no misconceptions among the general public. He directed officers to engage with residents in nearby areas and inform them about the safety measures in place. Highlighting the advantages of nuclear energy, Khattar said nuclear power plants are more cost-effective in the long-run and have minimal environmental impact compared to other energy sources. Khattar instructed the officials concerned that over 20,000 saplings be planted within the nuclear plant premises during the upcoming monsoon season to promote environmental sustainability. According to the statement, the Union Minister stated that all states have been urged to explore the feasibility of setting up nuclear plants and to ensure that at least one nuclear power plant is established wherever possible. He also emphasized the need to expand existing nuclear facilities to meet future energy demands. Khattar stressed that to achieve better outcomes; the construction of the Fatehabad project should be expedited. He added that any challenges encountered during the process should be promptly communicated to both the Central and State governments for resolution. After the meeting, Khattar and Saini visited the project site and inspected the ongoing construction work. The Chief Minister directed officers to not only focus on completing the current phase of construction but also to prepare a roadmap for the timely commencement and completion of the second phase of the project. On this occasion, Rajya Sabha MP Subhash Barala, Haryana Chief Secretary Anurag Rastogi, Additional Chief Secretary, Power, Apoorav Kumar Singh, were also present. PTI
India.com
33 minutes ago
- India.com
Who will inherit Sunjay Kapur's Rs 310000000000 business empire? Karisma Kapoor's daughter Samaira....
Who will inherit Sunjay Kapur's Rs 310000000000 business empire? Karisma Kapoor's daughter Samaira.... Indian automotive industry veteran and Chairman of Sona Comstar, Sunjay Kapur, passed away on Thursday. He was 53 years old. He was best known to many as the former husband of Bollywood actress Karisma Kapoor. The couple had two children together: daughter Samaira, born in 2005, and son Kiaan, born in 2011. They filed for divorce by mutual consent in 2014, which was finalized in 2016. Sanjay is the son of Surinder Kapur and Rani Kapur. He took over management of his father's business in 2003, and following his father's death in 2015, he was left to handle it entirely on his own. Sanjay had two sisters, Mandira Kapur and Suparna Motwane. Speculation is rife that following Sanjay Kapur's untimely demise, ownership of his business may pass to his two sisters. For context, Kapur was the owner of Sona Comstar, a leading name in the Indian automotive sector, with a market capitalization estimated at Rs 31,000 crore, according to Bloomberg. As far as Sunjay Kapur's personal life is concerned, he was married first to Nandita Mahtani. Their marriage lasted four years before they got divorced. The couple had no children. Later, he married the Bollywood actress Karisma Kapoor. They got divorced, and he subsequently married actress and model Priya Sachdev, who was previously married to hotelier Vikram Chatwal. Priya Sachdev was a mother from her previous marriage, having a daughter from their marriage. After marrying Sanjay, she gave birth to a son, Azarius. As such, Sanjay had responsibility for a total of four children: Samaira, Kiaan, Safira, and Azarius. Priya Sachdev and the four children represented his family, and they used to enjoy festivals together. Now that he has passed unexpectedly, the whole family business is reportedly going to be managed by Priya Sachdev. Sanjay Kapur was estimated to have over Rs 12,000 crore of assets under management, which must be quite a business for someone taking over. In 2017, model and actress Priya Sachdev entered Sanjay Kapur's life. She was previously divorced and had a daughter named Safira Chatwal from her first marriage. After marrying Sanjay, the couple welcomed a son, Azarius. This brought the total number of children under Sanjay's care to four—Samaira, Kiaan, Safira, and Azarius. Priya and these four children made up his close-knit family. Sanjay Kapur reportedly owned assets worth over Rs 12,000 crore, and managing such a vast empire could now become a significant challenge.
