general budget After this, Reliance Power shares are witnessing a great rally. On July 23, 2024, the share price of Reliance Power was ₹ 26.94 per share on NSE, which has increased to Rs 34.54 as of August 2. The stock has gained nearly 30 percent. According to market experts, Reliance Power is now a debt-free company. The company has repaid its dues of Rs 800 crore and expects Reliance ADAG Company to compete with other private power sector companies in FY25. The market expects the budget benefits to come to the company’s balance sheet in FY25, which has increased buying interest in Reliance Power shares. However, he said that after becoming a debt-free company, the company is facing a serious challenge on the order book front, which is expected to become clear in the upcoming quarters of the current financial year.
Reliance Power is now a debt free company
Reliance Power is no longer a debt-ridden company. The company has repaid its debt of ₹800 crore and is now a debt-free company on a standalone basis. Therefore, the company can now work on its order book, especially after Budget 2024. Therefore, the market expects the company’s order book to show its profit in FY 2025. However, it will be interesting to see how much profit is reflected in the financial position and order book of Reliance Power.
Stock may rise further
Market experts say that Reliance Power shares may see a bullish trend in the future as well. Investors’ interest has increased as the company has become debt free. The stock has created a strong support at ₹ 32. Maintain the investment till the stock does not go down. If this support holds, further uptrend will be seen.
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