Reliance Power shares zoom 19%; what analysts are saying

Shares of Reliance Power Ltd surged 18.89 per cent on Friday to hit a high of Rs 53. The stock was last seen up 17.70 per cent at Rs 52.47. At this price, it has climbed 16.39 per cent on a year-to-date (YTD) basis.

RPower recently partnered with Bhutan's Druk Holding and Investments (DHI) to develop India's largest solar power project in a Rs 2,000 crore joint venture. The 500 megawatt (MW) project will be developed under a 50:50 partnership through a Build-Own-Operate (BOO) model.

"The landmark solar investment in Bhutan underscores Reliance Group's strategic focus on expanding its renewable energy portfolio, while reinforcing its long-term commitment to strengthening India-Bhutan economic cooperation. Reliance Power’s total clean energy pipeline stands at 2.5 gigawatts peak (GWp) in the solar segment, making it India’s largest player in the integrated solar and Battery Energy Storage System (BESS) segment," it stated.

Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, noted that RPower's stock could be benefiting from favourable tailwinds in the power sector. However, he cautioned that the stock has been a wealth destructor in the past and is only suited for investors with a high-risk appetite.

Technically, Jigar S Patel of Anand Rathi said support for the counter will be at Rs 48 and resistance at Rs 53. "A decisive move above Rs 53 level may trigger a further upside towards Rs 56. The expected trading range will be between Rs 46 and Rs 53 for the short term," Patel added.

The scrip traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 75.88. A level below 30 is defined as oversold while a value above 70 is considered overbought.

As per BSE, the company's stock has a price-to-earnings (P/E) ratio of 327.81 against a price-to-book (P/B) value of 2.29. Earnings per share (EPS) stood at 0.16 with a return on equity (RoE) of 0.71. According to Trendlyne data, RPower has a one-year beta of 1.3, indicating high volatility.

Promoters held a 24.98 per cent stake in the Anil Ambani-led entity as on May 7, 2025.