Over the last two weeks, Reliance Power—which has Anil Ambani’s support—has made news for a number of encouraging events. Compared to large public sector undertakings (PSUs) like NTPC and Power Grid Corporation, the company’s shares have increased rapidly on the National shares Exchange (NSE). Thanks to a combination of rigorous debt reduction and consecutive fundraising initiatives that have restored investor trust, the stock has increased by an amazing 56%.
Reliance-Power is maintaining an ongoing rising momentum, frequently reaching upper circuits, which has been one of the performance’s main strengths. Within a week, the stock gained around 47% overall. From September 18 to September 27, the stock reached highs in all eight trading sessions.
Since September 12, there has been a sharp increase in the value of stocks, and this trend has not abated. Reliance Power has now become a bonafide multi-bagger after rising an incredible 56.8% on the NSE and BSE since that date. The stock has beaten competitors in 2024, including industry titans in the power sector like NTPC and Power Grid.
Reliance-Power stock surged a notable 142.04% over the past year and 93.53% year-to-date (YTD). NTPC grew by 42% over the previous year, while Power Grid grew by 48.9%. Reliance Power’s impressive climb still beats NTPC’s 85.74% growth and Power Grid’s 76.66% gain over the same period.
Reliance-Power was far behind NTPC and Power Grid, who had gained 62.82% and 67.14%, respectively, until September 11, 2024. Reliance Power had gained 53.95%. But Reliance Power made a sharp turnabout, rising by 56.2% in just 12 trading sessions (from September 12 to September 28). NTPC and Power Grid, on the other hand, trailed far behind, posting considerably lesser increases of 7.9% and 4.75%, respectively.
Reliance-Power’s explosive expansion and the excitement of investors around the company promise a successful year for the business and establish it as a standout performer in the Indian power industry.
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