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Reliance Power Plunges 4%; BSE POWER Index Down 0.0%
Tue, 13 Aug 13:2

Reliance Power Plunges 4%; BSE POWER Index Down 0.0%Image source: DNY59/www.istockphoto.com

Reliance Power share price has plunged 4% and is presently trading at Rs 30.5.

Meanwhile, the BSE POWER index is at 8,236.0 .

Among the top losers in the BSE POWER index today are INDIAN ENERGY EXCHANGE (down 2.4%) and TORRENT POWER (down 1.5%).

ADANI ENERGY SOLUTIONS (up 2.3%) and ADANI GREEN ENERGY (up 1.9%) are among the top gainers today.

Over the last one year, Reliance Power has moved up from Rs 18.3 to Rs 30.5, registering a gain of Rs 12.3 (up 67.3%).

On the other hand, the BSE POWER index has moved up from 4,225.0 to 8,236.0, registering a gain of 94.9% during the last 12 months.

The top gainers among the BSE POWER index stocks during this same period were BHEL (up 193.0%), TORRENT POWER (up 160.2%) and ADANI POWER (up 149.8%).

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What About the Benchmark Indices?

The BSE Sensex is at 79,314.2 (down 0.4%).

The top losers among the BSE Sensex today are HDFC Bank (down 2.7%) and Tata Motors (down 1.7%). The most traded stocks in the BSE Sensex are Tata Steel and HDFC Bank.

In the meantime, NSE Nifty is at 24,234.3 (down 0.5%). HDFC Bank and HDFC LIFE INSURANCE are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,995.8 to 79,314.2, registering a gain of 13,318.4 points (up 20.2%).

Reliance Power Financial Update...

Reliance Power net profit fell 260.7% YoY to Rs -4,153 million for the quarter ended March 2024, compared to a profit of Rs 2,584 million a year ago. Net sales rose 15.6% to Rs 19,967 million during the period as against Rs 17,268 million in January-March 2023.

For the year ended March 2024, Reliance Power reported 553.9% decrease in net profit to Rs -22,422 million compared to net loss of Rs 3,429 million during FY23. Revenue of the company grew 5.0% to Rs 78,926 million during FY24.

The current Price to earnings ratio of Reliance Power, based on rolling 12 month earnings, stands at -5.4.


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