LIC-backed Reliance Group Low Price Stock Hits Upper Circuit with Heavy Volumes; Stock Gains Over 90 per cent!
The shares of the company gained more than 90 per cent in the last 1 year.
Reliance Power is dedicated to developing, constructing, and operating power projects both in India and internationally. The company, along with its subsidiaries, boasts a substantial portfolio of power generation capacity, including both operational assets and projects under development.
At the start of the day's trading session, the stock opened at Rs 30.29 per share, compared to the previous day's closing figure of Rs 29.79 per share on the BSE. Finally, the shares closed at Rs 31.27 per share. The stock has hit the upper circuit, reflecting strong demand in the market. The company's current market capitalization stands at Rs 12,561 crore, and the stock has generated an impressive return of over 90 per cent in the past 1 year.
As per the Quarterly Results, in Q4 FY24, Reliance Power recorded a revenue of Rs 1997 crore. The operating profit for Q4 FY24 stood at Rs 186 crore. The net loss for Q4 FY24 was Rs 398 crore. Looking at the annual performance, the company generated a revenue of Rs 7893 crore in FY24, compared to Rs 7514 crore in FY23. The operating profit for FY24 was Rs 1160 crore with a net loss of Rs 2068 crore.
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According to the shareholding pattern of Reliance Power, promoters own a 23.24 per cent stake, while public investors hold 60.99 per cent. Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) hold 12.71 per cent and 3.06 per cent stakes, respectively. In the most recent quarterly update, both the FIIs and DIIs have decreased their stake in the company.
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Disclaimer: The article is for informational purposes only and not investment advice.