Shares of Anil Ambani-owned Reliance Power have fallen significantly in the last one month. The stock value is down nearly 30 per cent from its 2024 peak of Rs 54.25 (October 4, 2024). However, Reliance Power shares rose 4.1% to an intraday high of Rs 42.94. In the last few years, investors’ attention has focused on Reliance Power shares due to improvement in balance sheet and reduction in debt.
Market conditions and investor confidence
Reliance Power has won several orders in the renewable energy sector in recent years, which has increased interest in the shares. According to Dhvani Patel, market analyst and founder of Finversify, Reliance Power shares are trading within a strong upward channel from 2023, indicating bullish momentum. He said the shares may move upwards again, and the target could be Rs 48.
Shareholding pattern and investment stance
According to the shareholder pattern of Reliance Power, FIIs have increased their stake in Anil Ambani’s company to 13.13 per cent in the September 2024 quarter from 12.71 per cent in the June 2024 quarter. Promoters hold 23.26 per cent stake in the power generation company, while insurance companies and mutual funds hold about 3 per cent each.
long term returns
Reliance Power shares have given positive returns of 28 per cent in the last one year, and have seen multibagger returns of 177 per cent in two years. Equity shares of Anil Ambani’s company have given a handsome return of 1,431 percent, thereby increasing the wealth of investors.
