Reliance Power hits over 10-year high, stock zooms 85% in 1 month

Shares of Reliance Power continued their upward movement, with the stock hitting over a 10-year high of ₹71.35, as they rallied 11 per cent on the BSE in Tuesday’s intra-day trade amid heavy volumes.

The stock price of the power generation company is trading at its highest level since November 2014.

The market price of Anil Ambani's Reliance group company gained for the third straight day, surging 17 per cent during the period. In the past month, the stock zoomed 85 per cent on the BSE.

At 10:49 AM, Reliance Power was trading 8 per cent higher at ₹69.96, as compared to a 0.05 per cent rise in the BSE Sensex. The counter had seen huge trading volumes, with a combined 266.22 million equity shares representing 6.5 per cent of the total equity of Reliance Power, changing hands on the NSE and BSE.

Retail investors hold nearly 50% in Reliance Power

Retail investors are holding nearly 50 per cent stake in Reliance Power as of May 7, 2025, the exchange data shows.

Resident individuals holding nominal share capital up to ₹2 lakh (27.02 per cent) and resident individuals holding nominal share capital over ₹2 lakh (21.59 per cent) collectively held a 48.61 per cent stake.

Life Insurance Corporation of India (LIC) held a 2.49 per cent stake, while VFSI Holdings PTE LTD held a 4.99 per cent stake in Reliance Power, data shows. Reliance Infrastructure, the promoter of Reliance Power, holds a 24.90 per cent stake.

What’s driving the over 80% rally in Reliance Power shares?

On May 9, 2025, Reliance Power posted a consolidated net profit of ₹126 crore in the fourth quarter of the previous fiscal (Q4FY25), aided by lower expenses, compared to a loss of ₹397.56 crore in Q4FY24. Total income declined to ₹2,066 crore from ₹2,194 crore a year earlier. Reliance Power's debt-to-equity is among the lowest in the industry, reduced from 1.61:1 in FY24 to 0.88:1 in FY25.

Further, Reliance NU Suntech, a unit of Reliance Power, has signed a 25-year Power Purchase Agreement with SECI to develop Asia’s largest integrated solar and battery energy storage project. The ₹10,000 crore project will include 930 megawatt (Mw) of solar capacity and 465 MW/1860 MWh of storage, operating at a fixed tariff of ₹3.53/kWh.

On May 28, 2025, unit Reliance NU Energies Private (Reliance NU Energies) received the Letter of Award (LOA) from SJVN, 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).

The same unit had earlier emerged as the successful bidder in the competitive auction conducted by SJVN, securing the project at a fixed tariff of ₹3.33/kWh for a period of 25 years.

On December 31, 2024, Sasan Power, a Reliance Power subsidiary, repaid $150 million to IIFCL, UK. The company said the payment strengthens debt coverage, boosts liquidity, and supports credit rating improvement.

Reliance Power growth opportunities

India plans to add about 80 gigawatt (Gw) of new coal-based thermal power capacity by 2031–32 to meet rising electricity demand, according to the National Electricity Plan.

Reliance Power, in its FY24 annual report, said this renewed focus presents growth opportunities for thermal players. Increasing electrification, rising per-capita power use, and EV adoption are expected to drive power demand. Meanwhile, India also targets 500 Gw of non-fossil capacity by 2030 as part of its energy transition.