Shares of this power share have been in focus for the past several sessions. Last Friday, this power's share rose 5% to Rs. reached at 34.57. The current market cap of the company is Rs. 13,886.67 crores. Up 15% in last five days. The stock has gained 90 percent in the last 1 year.
Let us tell you that Reliance Power has recently announced that the company is loan free. Let us tell you that LIC also has a large stake in the shares of Reliance Power. LIC holds 10,27,58,930 shares or 2.56% stake in the company.
Speaking about Reliance Power shares, Sumit Bagdia, Executive Director, Choice Broking said, 'Reliance Power's share price is rising. The stock has made a strong base at Rs 32.
Shareholders of Reliance Power are advised to hold shares with a trailing stop. The brokerage has assigned a short-term target price of Rs 40 and a 'Buy' rating on the stock.
Reliance Power is dedicated to the development, construction and operation of power projects in India and internationally. The Company, together with its subsidiaries, has a large portfolio of power generation capacity, including operational assets and projects under development.
According to quarterly results, in Q4FY24, Reliance Power posted Rs. 1997 reported an income of Rs. Operating profit for Q4 of FY24 was 186 crores. 398 crore net loss for Q4 of FY24.
Looking at the year-on-year performance, the company posted revenues of Rs 7,893 crore in FY24, up from Rs 7,514 crore in FY23. Operating profit for FY24 was Rs 1160 crore and net loss was Rs 2068 crore.
Note: Do not invest in stock market without knowledge. Before investing in any shares you should talk to your financial advisor once. If you do not do so, you may suffer financial loss.
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