The price of Reliance Power’s (NSE: RPOWER) share has been on an upward trend since the date for the meeting of the Board of Directors was announced to review and approve a fundraising plan of Anil Dhirubhai-Ambani Group (ADG).
The company’s board has decided to set the date for the meeting for today. i.e. 23rd September, 2024. The stock has been on the higher circuit for four consecutive days.
Before an upcoming board session, the price for Reliance Power opened higher today and climbed to an intraday high at 38.15 on the NSE.
In addition to soaring up the intraday high, Reliance Power shares Reliance Power also touched the upper circuit at 5 percent.
On Monday, Reliance Power shared that Reliance Power touched the upper circuit for the fourth time in a session. The stock was on high on Thursday, Wednesday, and Friday of last week.
The stock has gained around 22 percent in the past five days. The stock has delivered an average return of 60 percent. The return for one year is 101 percent.
If we consider the five-year performance the company has earned an incredible increase of 1490%.
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The Price Could Go As High As Rs 50
A renowned brokerage said, Expecting the possibility of a rise for Reliance Power shares, Reliance Power shares may rise over 40 rupees per share on a definite basis.
So, Reliance Power shareholders are advised to maintain their stock and keep a stop loss at Rs 35 per share for the short term, which is between Rs 45 and Rs 50.
Brokerage explained that ‘new investors’ can also purchase Reliance Power shares for short-term goals of Rs 45 or Rs 50.
Reliance Power Announces ADAG While notifying the Indian stock market exchanges of the plan to generate money, Reliance Power stated they want to inform you that a meeting of the Board of Directors of the Company will be held on 23 September 2024.
The meeting will be held to consider and also authorize the possibility of raising long-term resources through global and/or domestic markets.
Quick Fact
| Company name | Reliance Power |
|---|---|
| Recent meeting | 23rd September 2024 |
| Board plan | Fundraising |
| Stock performance | 4 days in a row (upper circuit) |
| Intraday high | ₹38.15 (NSE) |
| Upper circuit | 5% (4th session) |
| 5-day gain | 22% |
| Average return | 60% |
| 1-year return | 101% |
| 5-year return | 1490% |
| Possible target | ₹45 to ₹50 |
| Short-term stop loss | ₹35 |
| Investment advice | Hold existing stock |
| New investors | Buy for short-term goals |
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