If you are thinking of earning from the stock market, then this news related to Anil Ambani's company Reliance Power can be very important for you. The company's shares have given a tremendous return of about 20%in the last one month, which is a better performance than major indexes such as Nifty 50 (1.60%), Sensex (1.52%) and Bank Nifty (6.13%). It is worth noting that in March 2020, where the share of Reliance Power was at a historic low of 1 rupee, now it is trading around 40 rupees.
According to a report, Reliance Power has recently taken big steps to reduce its debt. The company's date-to-equity ratio has now come down from 1.61 to 0.86. This improvement has been mainly possible after selling Reliance Capital's share to Indusind International Holdings. However, the company still remains the responsibility of non-convertible debentures (NCDs) of Rs 250 crore.
In the September 2024 quarter, Reliance Power recorded a net profit of Rs 2,878 crore, including an extra -ordinary income of Rs 3,000 crore. This income Vidarbha Industries Power Ltd. (VIPL) was obtained from the deconsolidation. After this, the net profit of the company was Rs 42 crore in the December 2024 quarter.
The company is now moving towards green energy. Its green energy projects will start in Andhra Pradesh. A supporting unit of the company has received the contract for Asia's largest solar and battery storage project.
According to the market expert, the share of Reliance Power has made a strong base at the level of Rs 36. If it crosses the level of Rs 44, the next target can be Rs 48 and Rs 52.
