2400% Gain in Five Years: Reliance Power Share Price Delivars Multibagger returns. Should you buy?

R Power Share Price: Shares of Reliance Power Jumped 4% to touch a fresh 52-wheek high on Thursday’s session. R Power Share Price Surged by 5.45%, Hitting a Peak of 62.12 in Trading on Wednsday. At that peak, the stock was only 1.08% below its one-yar high 62.80, which was recorded just a less days earlier on June 2. Reliance power share price today open 60.30 apiece on the bse, the stock touched an intraday high 63.39 per share, and an intraday low of 59.93 Apiece.

R Power Share Price has experienced significant growth, Rising more than 2,400% over the last five years. It has surgged Nearly 79% in just three months and approximately 51% in the past month.

What’s Driving The Rally in Recent Times?

Recently, Reliance Power Announced that its subsidian, Reliance Nu Energies, Has Been Awarded a letter for a 350 mw solar power project, which incidences a 175 mw/700 mW/700 mWH BATTERYGY STORE System from Sjvn. When operational, this project will enhance relief power by adding 600 mw of solar dc capacity and 700 mwh of bess capacity, thereby reaffirming its postion as a leather in new enrich According to a company statement.

In addition, Reliance Power Has Establed a Commercial Term Sheet for a long-term power purchase agrement with green digital pvt ltd, which is Owned by Druk Holding and Investments Ltd, the Investigation Branch of the Royal Government of Bhutan.

Reliance Power and Druk Holding and Investments Ltd (Dhi) Plan to Jointly Construct Bhutan’s Largest Solar Power Project Through a partnership with an equal share, Targeting an INSTALLED CAPACTYED CAPACTYED CAPACTYD CAPACTYD CAPERSHIP As indicated by a company statement.

The project will require an investment of up to 2,000 crus under a building-operate (boo) model, making it the largest private sector Foreign Direct Investment (FDI) in Bhutan’s Solar Energy Field So Far.

Q4 Results

In the January-March Quarter of FY25, Reliance Power Reported A Consolidated Net Profit of 126 Crore, attributed to reduced expenses. The company had experienced a loss of 397.56 Crore during the Quarter that ended on March 31, 2024, according to a regulatory filing.

Total Revenue Fell to 2,066 Crore in the most recent fourth Quarter, down from 2,193.85 Crore in the same Quarter Last Year.

What should investors do?

According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, R Power Share Price Has Seen Massive Run from The May Month Swing Low and is at Highest Point In the Last In the Last Five Years, Upmove has been backed with strong volumes.

In Near Term Pricees May Extend Upmove However Considering The overbough conditions, Dips would be ideal to enter longs, 56 – 57 seems strong support whereas 72 as resistance.