☀️Highlights:

Reliance Power’s stock surged 1700% over 5 years.

From ₹2, the share price reached ₹41.30 after recent fluctuations.

The company achieved zero debt status in the latest quarter.

In Q3 FY23, Reliance Power reported ₹41.95 crore net profit.

Despite recent dips, shares rose 50% year-on-year.


➡️Full Article:

Reliance Power’s stock is currently grabbing significant attention as it shows an impressive turnaround. The shares, which once dropped to ₹2, have recently climbed to ₹41.30 after seeing a 7% decline last Friday. Despite these fluctuations, the stock has surged by 50% over the past year and has seen a remarkable 1700% increase in the last five years, from a low of ₹2 to its current value.

What’s more impressive is that the company has now achieved zero debt status, as per its December quarter results. This means Reliance Power has no outstanding loans with any public or private banks, which strengthens its financial position.

Reliance Power, part of the Reliance Group, focuses on the development, construction, and operation of power projects. Previously known as Reliance Energy Generation Limited (REGL), the company operates across both Indian and international markets. As of now, its market capitalization stands at ₹16,614.19 crores, with the 52-week high at ₹54.25 and the low at ₹23.26.

Despite facing some setbacks in the long run, including a sharp fall in share price to ₹275 back in 2008, the company has gradually recovered, with strong growth in recent years. In the third quarter of FY23, Reliance Power reported a net profit of ₹41.95 crores, a significant recovery from a loss of ₹1,136.75 crores in the same period the previous year. The company’s total revenue also grew, reaching ₹2,159.44 crores, while its expenses decreased to ₹2,109.56 crores from ₹3,167.49 crores.