Reliance Power shares fall 35% from 52 week high, analysts still positive; check targets

Shares of multibagger Reliance Power have remained in focus lately as Anil Ambani entered the renewable and green energy space. However, after a three-day upper circuit rally, the stock saw a sharp profit booking on Friday. However, technical analysts continue to remain positive on the stock in the long-run.

Shares of Reliance Power have been hitting upper circuits (of 5 per cent each) for the last three-trading sessions as the company has entered a Bhutan JV, strengthening their clean energy pipeline to over 3 GW solar and 3.5 GWh storage. It has entered into a 50:50 JV with Green Digital, state-run company of Bhutan.

After an initial uptick on Friday, shares of Reliance Power saw some profit booking and dropped more than 5.25 per cent from day’s high at Rs 50.90 to Rs 48.21 per share. The total market capitalization of the company slipped to Rs 20,500 crore mark. The stock has tumbled over 23 per cent in nearly a month, while it is down 9 per cent in August 2025 so far.

Experts believe that that stock has a potential to rally further after the current round of consolidation. After a sharp fall, which started in July, Reliance Power has consolidated in the Rs 42–45 band before breaking out this week, said Rahul Sharma, Director and Head of Technical & Derivative Research at JM Financial Services.

“An uptick in daily average volumes supports the move, with potential upside towards Rs 60 in the best case scenario. However, given the stock’s history of circuit-to-circuit moves, traders should position themselves cautiously, with a stop loss around Rs 41,” he added.

Shares of Reliance Power hit its 52-week high at Rs 76.49 on June 11, 2025 but the stock has plunged nearly 35 per cent from those levels in a little more than 2 months period. However, the stock had surged 675 per cent in the last two years and 2,400 per cent in the last five years.

Reliance power on its quarterly line chart witnessed a multiyear falling channel breakout of Rs 25 levels and  headed to face its first resistance placed at Rs 76 levels, with back to back 10 quarters of rally. At current juncture this stock is likely to consolidate, post a steep correction, said Sujit Deodhar, Head Technical Analyst at Wellworth Share & Stock Broking.

“The long term structure still looks positive and any dip towards the demand zone of Rs 35-30 from current levels of Rs 50, can be utilized as a buying opportunity with a strict stop loss below Rs 25 levels. Trading targets can be placed closer to its previous highs of 76.50 levels, but from a long term perspective a quarterly close above Rs 77-80 levels,” he added.

Anil Ambani-backed Reliance Power has seen its promoters raise their stake to 24.98 per cent from 23.26 per cent in the previous quarter. The company’s promoters held 23.24 per cent in the same period last year. More than 43.18 lakh retail investors held 114.66 crore equity shares, or 48.46 per cent stake, in Reliance Power as of June 30, 2025.