Reliance Power Share Price is going to rise by Rs 110, know what market experts say
Reliance Power Ltd. (RPOWER) is expected to continue its bullish run tomorrow, with a price target of 36.75 on the upside, according to AI-powered predictions. The stock has been on a strong upward trajectory, with a 1-year return of 101.85% and a 3-year return of 181.55%.
The company’s performance has been mixed, with a negative ROE for 3 consecutive years and a loss of Rs 97.85 crore for the 4th consecutive quarter. However, the stock has outperformed the Nifty Midcap 100 index, with a 3-year return of 139.78% compared to the index’s 101.28%.
Main Points
According to the AI predictions, the stock price targets for Reliance Power Ltd. (RPOWER) are as follows:
| Tomorrow Target 1 | 35.25 |
|---|---|
| Tomorrow Target 2 | 35.79 |
| Tomorrow Target 3 | 36.32 |
| Tomorrow Target 4 | 36.75 |
| Tomorrow Target 5 | 37.18 |
The stock is currently trading above an important level of 30.41 on the charts, and as long as it remains above this level, the uptrend is likely to continue. The AI Munafa prediction value is 70 as of September 16, 2024, indicating that the stock is moving upwards and might continue to do so.
Reliance Power News and Updates
Reliance Power Ltd. recently completed the transfer of its wind project to JSW Energy, causing a dip in the stock price. The company has also reported a 15.42% year-on-year increase in consolidated net sales for March 2024, reaching Rs 1,996.65 crore.
In terms of fundamentals, Reliance Power has an operating revenue of Rs. 7,987.72 crore on a trailing 12-month basis, with an annual revenue growth of 5%. The company’s pre-tax margin of -26% and ROE of -17% need improvement, while its debt-to-equity ratio of 81% is a bit higher.
Technically, the stock is trading below its 50-day moving average (DMA) but around 9% above its 200-DMA. It needs to take out the 50-DMA levels and stay above it to make any further meaningful move. The stock recently broke out of a base in its weekly chart but failed to maintain its momentum, trading around 9% from the pivot point.
The key resistance and support levels for Reliance Power Ltd. (RPOWER) are as follows:
The stock’s RSI stands at 43.26, while its MFI is at 38.50. The MACD single line is -0.02, and the MACD is -0.36.
Reliance Power Delivery and Volume
The average daily trading volume for Reliance Power Ltd. (RPOWER) is 25,823,880 shares, with a delivery volume of 43.48%. The average weekly volume is 35,118,017 shares, with a delivery volume of 44.41%. The average monthly volume is 74,138,686 shares, with a delivery volume of 43.73%.
