Reliance Power (RPOWER) shares closed at ₹38.15 on the NSE, up 4.98% from the previous close of ₹36.34. The stock touched an intraday high of ₹40.05 and a low of ₹36.24. Analysts remain bullish on the company’s growth prospects, citing its strong performance and positive outlook.
The company reported a consolidated net profit of ₹654.71 crore for the quarter ended March 2024, compared to a loss of ₹277.32 crore in the corresponding quarter of the previous year. Revenue from operations stood at ₹1,996.65 crore, up 15.42% year-on-year.
Reliance Power’s market capitalization currently stands at ₹13,894.70 crore. The stock has delivered a 3-year return of 151.71%, outperforming the Nifty Midcap 100 index which has given a return of 101.28%.
Main Points
- Reliance Power shares surge 4.98% to ₹38.15 on the NSE
- Stock touches an intraday high of ₹40.05 and a low of ₹36.24
- Company reports consolidated net profit of ₹654.71 crore for Q4 FY24
- Revenue from operations up 15.42% year-on-year to ₹1,996.65 crore
- Market capitalization stands at ₹13,894.70 crore
- Stock delivers 3-year return of 151.71%, outperforming Nifty Midcap 100
Analysts remain bullish on Reliance Power’s growth prospects, citing its strong performance and positive outlook. The company’s focus on renewable energy projects and its ability to secure new contracts have been key drivers of its growth.“Reliance Power has been able to capitalize on the growing demand for renewable energy in the country. Its strong project pipeline and cost-effective operations have helped it maintain a competitive edge in the market,” said an analyst at a leading brokerage firm.
| Metric | Value |
|---|---|
| PE Ratio | 245.95 |
| EPS (TTM) | 0.13 |
| Market Cap | ₹13,894.70 Cr |
| Sectoral MCap Rank | 20 |
| PB Ratio | 1.41 |
| Dividend Yield | 0% |
| Face Value | ₹10 |
| Beta | 2.12 |
| 52W High/Low | ₹38.11 / ₹15.55 |
Reliance Power’s Growth Drivers
Reliance Power’s growth has been driven by its focus on renewable energy projects and its ability to secure new contracts. The company has a strong project pipeline, including several solar and wind power projects.
The company has also been able to maintain a competitive edge in the market through its cost-effective operations and efficient project execution. Its strong financial performance and positive outlook have also contributed to its growth
