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Reliance Power Plunges 5%; BSE POWER Index Up 1.4%
Tue, 6 Aug 12:22

Reliance Power Plunges 5%; BSE POWER Index Up 1.4%Image source: CreativaImages/www.istockphoto.com

Reliance Power share price has plunged 5% and is presently trading at Rs 31.2.

Meanwhile, the BSE POWER index is at 8,250.0 (up 1.4%).

Among the top losers in the BSE POWER index today is ADANI ENERGY SOLUTIONS (down 3.2%).

INDIAN ENERGY EXCHANGE (up 3.9%) and TORRENT POWER (up 2.9%) are among the top gainers today.

Over the last one year, Reliance Power has moved up from Rs 18.2 to Rs 31.2, registering a gain of Rs 13.0 (up 71.8%).

On the other hand, the BSE POWER index has moved up from 4,264.8 to 8,250.0, registering a gain of 93.4% during the last 12 months.

The top gainers among the BSE POWER index stocks during this same period were BHEL (up 195.7%), TORRENT POWER (up 173.1%) and ADANI POWER (up 160.4%).

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What About the Benchmark Indices?

The BSE Sensex is at 79,322.3 (up 0.7%).

The top gainers among the BSE Sensex today are JSW Steel (up 3.0%) and HCl Tech. (up 2.5%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,223.8 (up 0.7%). Adani Enterprises and JSW Steel are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,782.8 to 79,322.3, registering a gain of 13,539.5 points (up 20.6%).

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 -5.6.


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