Shares of Anil Dhirubhai Ambani group’s (ADAG) Reliance Power surged over 11% in intra-day trading on Wednesday, March 25, amid high volumes. The stock’s sharp rally comes even as the Indian stock market sentiment turned subdued today.
According to the data available on BSE, the total traded quantity for Reliance Power shares stood at 53.38 lakh against the two-week average of 42.95 lakh shares.
Reliance Power share price trend
Reliance Power share price opened at ₹37.14 apiece, largely unchanged compared with the previous closing price of ₹37.23.
However, the stock soon extended gains to rise as much as 11% to the day’s high of ₹41.40 apiece. Despite this rally, the ADAG group stock remains 24% below its 52-week high of ₹54.25 hit in October last year. Meanwhile, it has nearly doubled from its 52-week low level of ₹23.26.
In the month of March so far, the stock has rallied 24%, moving in line with the strength visible on Dalal Street.
As of 11.40 am today, Reliance Power stock was up 8.5% at ₹40.39 on the BSE while the benchmark Sensex was down 160 points or 0.20% at 77,858.
Financial snapshot
Reliance Power posted a sharp turnaround in its financials for the third quarter of the financial year 2024-25 ended December 2024, boosting investor interest in the stock. It reported a net profit of ₹41.95 crore on the back of higher income as against a loss of ₹1,136.75 crore in the year-ago period. Its income for the said quarter witnessed a rise to ₹2,159.44 crore from ₹1,998.79 crore a year ago.
Expenses also declined in the December 2024 quarter to ₹2,109.56 crore as against ₹3,167.49 crore. In a statement, the company said it has achieved zero bank debt status, which means it has no outstanding balance to any bank — private or public.
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