This week, Reliance Power (NSE: RPOWER) is taking centre stage as its stock soars above ₹72, the highest level it has reached in more than ten years. It has gone from being an underperformer to one of the most watched momentum trades on the NSE after an incredible 85% surge in just one month.
What’s Fueling the Reliance Power Rally?
This move isn’t random. It’s been building for weeks under the radar.
- Debt restructuring buzz: Market chatter points to real progress on reducing the group’s debt load. For a stock long weighed down by financial stress, even small steps are being rewarded.
- Group-wide momentum: The rally isn’t limited to RPOWER. Traders have been rotating into ADAG group names, and this one’s caught fire. With liquidity flooding in, price action is doing the rest.
- Sector tailwinds: The broader power and infrastructure space is seeing renewed interest. With peak summer demand and policy reforms on the table, anything tied to electricity generation is catching a bid
Reliance Power Solar Projects and Fundraising Fueling Confidence
What separates this rally from past false starts is the actual execution behind the scenes:
- Massive 930 MW solar + BESS deal: Last month, Reliance NU Suntech signed a 25-year PPA with SECI for Asia’s largest single-site solar-plus-storage project. Total investment: up to ₹10,000 crore.
- Bhutan collaboration + SJVN win: Another arm, Reliance NU Energies, bagged a 350 MW solar-storage project from SJVN and inked a co-development deal for Bhutan’s largest solar plant.
- Fresh capital raised: In May, the company raised ₹348 crore through preferential allotments, backed by promoter Reliance Infrastructure and Basera Home Finance.
This isn’t just momentum anymore. It’s momentum with muscle.
Reliance Power Technical Outlook
- RSI: 81.42 – overheated, but still pushing
- MACD: Bullish continuation, no bearish cross yet
- Resistance: ₹76-₹80
- Support: ₹64, ₹58
Final Word
Reliance Power is no longer the penny stock traders once ignored. With hard numbers, signed deals, and big money moving in, this breakout feels different. If the ₹80 ceiling gives way, the next leg higher could come faster than most expect.