Shares of Anil Ambani-led company Reliance Power have seen a continuous rise in the last 8 trading sessions. The rising trend in the shares of the company has been seen after the loan settlement by Vidarbha Industries Power Limited as the guarantor. After this, there is a continuous rise in the prices of the company’s shares.
Anil Dhirubhai Ambani Group’s shares are continuously hitting the upper circuit. A decision on raising funds for long term will be taken in the company’s board meeting. Since September 18, Reliance Power shares have been continuously hitting upper circuit. Due to which the share prices of this company have seen an increase of 50 percent in just 8 trading sessions. Let us tell you, the board meeting of Reliance Power is proposed on 3 October 2024.
What is the target price of Reliance Power?
Sumit Bagadia, an expert associated with Choice Broking, says, “At present, Reliance Power shares are at Rs 46.35. During the last few months, this stock was successful in reaching new heights several times and fell down several times. Recently, momentum has increased again due to increased buying. It would be advisable to buy during the fall. With a target price of Rs 58 to Rs 62.” According to Sumit Bagadia’s estimate, this stock can rise by 33 percent from the current share price.
In the last 6 months, the share prices of Reliance Power have seen a rise of more than 67 percent. At the same time, this stock has gained 141 percent in one year. Public shareholding in this company is more than 60 percent. LIC also has 2.6 percent stake in the company. Let us tell you, the 52 week low level of Reliance Power is Rs 15.53.
