Reliance Power share price extended its upward momentum for the third consecutive session on Monday, surging nearly 8% to hit a fresh 52-week high amid robust trading volumes. The Anil Ambani-led Reliance Power shares rallied as much as 7.79% to touch a new high of ₹62.80 apiece on the BSE.
This latest gain in Reliance Power shares follows an impressive 11% jump in the previous session, bringing the stock’s one-week gain to over 21%.
Trading volumes in Reliance Power shares were significantly elevated, with around 61 crore shares changing hands on Monday — more than double its one-week average of 27 crore shares, and nearly five times the one-month average of 13 crore shares.
The surge in trading activity and stock price follows the announcement of a major renewable energy project win.
Reliance Power on May 28 announced that its subsidiary, Reliance NU Energies Private Limited (Reliance NU Energies), received the Letter of Award (LOA) from SJVN, a Navratna Central Public Sector Enterprise, for a 350 MW inter-state transmission system (ISTS)-connected solar power project coupled with a 175 MW/700 MWh Battery Energy Storage System (BESS).
Once commissioned, the platform will add 600 MW of solar DC capacity, and 700 MWh of BESS capacity to Reliance Power’s portfolio. The company’s total clean energy pipeline now stands at 2.4 GW of Solar DC capacity and over 2.5 GWH of BESS capacity, making it India’s largest player in the integrated Solar + BESS segment, Reliance Power said in a regulatory filing on May 28, 2025.
Reliance NU Energies had earlier emerged as the successful bidder in the competitive auction conducted by SJVN, securing the project at a fixed tariff of ₹3.33 per kWh for a period of 25 years.
Reliance Power Share Price Performance
Reliance Power share price has delivered stellar returns in recent months. The Anil Ambani Group stock is up 53% over the past one month and 85% over the last three months. On a year-to-date (YTD) basis, Reliance Power shares have gained 38%, while delivering multibagger returns of 151% over the past one year.
The rally has been even more pronounced over the long term, with the Reliance Power stock price rising 370% in two years and an astounding 2,800% over the last five years.
Technical Outlook: Bullish Breakout on Weekly Charts
From a technical perspective, Reliance Power is currently the strongest performer among Anil Dhirubhai Ambani Group (ADAG) stocks. The stock recently broke out of a 33-week-long “cup and handle” formation on the weekly chart, noted Anshul Jain, Head of Research at Lakshmishree Investments.
“The breakout was backed by volumes 8x higher than the 50-day average, indicating strong, broad-based participation. Reliance Power share price is currently holding above the breakout level, and any dip towards ₹48 or consolidation around this zone presents a fresh buying opportunity,” Jain said.
The pattern projects an immediate upside target of ₹65, with a further potential move towards ₹79, he added.
At 12:40 PM, Reliance Power share price was trading 6.52% higher at ₹61.95 apiece on the BSE.
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