Reliance Power Shares Hit A Fresh 1-Year High, Shares Up 47% In Just Six Sessions. Should You Invest

#reliancepowersharenews #reliance #investmenttips #sharemarket2024 #businessnews
Reliance Power's stock soared to a one-year high, closing at Rs 32.99, a 7.92% increase. This marks a significant 47.54% gain over six consecutive trading sessions. The company's shares have experienced a remarkable 264.53% rally from their 52-week low of Rs 9.05, attributed to two bulk deals and a surge in trading volumes, with about 5.05 crore shares traded on BSE, outpacing the two-week average. The company's financial performance indicates improvement, with a reduced consolidated net loss of Rs 237.76 crore in Q2 FY24, down from Rs 340.26 crore in the previous year. This was accompanied by a 9.55% increase in total income. Market analysts project further growth, with potential targets of Rs 35 and Rs 43, while maintaining a critical support level at Rs 25. There's cautious optimism for the stock's future, but investors are reminded of its volatile past. Once plummeting by 99% from its peak, Reliance Power's shares have bounced back significantly, increasing over 2600% in four years. With a market capitalization exceeding ₹11,000 crores and a 775% surge in the last three years, the company shows signs of recovery. However, investors are advised to remain vigilant and consult financial advisors.
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[rajendrajasathy]

Mgmt is poor, no investment in Anil Ambani led companies....Lost huge money in past.