Reliance Power shares have been on a significant upward trend, hitting the 5% upper circuit for the eighth consecutive session. Several factors have driven this rally. First, the company successfully resolved a major financial burden, with a ₹3,872 crore debt related to its subsidiary Vidarbha Industries Power Limited (VIPL) being settled. This boosted investor confidence, leading to a positive market response.
Source:- news 18
Additionally, the company’s decision to raise long-term capital through equity-linked securities or convertible bonds has further fueled interest. Reliance Power is also trading above key moving averages (5-day to 200-day), which indicates strong technical momentum. However, the stock’s Relative Strength Index (RSI) of 70.8 suggests it is in the overbought zone, signaling potential caution for new investors
Source:- bbc news
With a market capitalization of ₹15,328 crore and a year-to-date surge of over 100%, analysts are watching closely for any price correction. Short-term price targets will depend heavily on further corporate developments and the overall market trend.
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