From September 18 to September 27, the private stock touched 8 upper circuits, which in total had 8 sessions.
Reliance News: A slew of good news has been coming in for the Reliance Power-backed by Anil Ambani for the last two weeks. Reliance Power became a multi-bagger faster than Maharatna PSUs NTPC and Power Grid Corporation after the company gained 56 percent on the NSE (National Stock Exchange). According to the reports, the reason behind investors’ newfound faith in Reliance Power is because of back-to-back fundraising proposals and reducing its debt drastically.
The Reliance Power has touched back-to-back upper circuits. From September 18 to September 27, the private stock touched 8 upper circuits, which in total had 8 sessions. In these 8 trading days, Reliance Power stock grew by nearly 47 percent on the NSE.
Reliance Power has been witnessing a massive growth on BSE and NSE since September 12. Since then to date, Reliance Power stock surged by a whopping 56.8 percent.
Due to the strong buying from September 12 to September 28, Reliance Power emerges as a multi-bagger in its 1-year performance. In 2024 so far, the stock even outperformed power sector giants like NTPC and Power Grid.
YTD, Reliance Power surged by 93.53%, while in a year, the stock advanced by 142.04%. Meanwhile, YTD and NTPC gained by 42% and Power Grid surged by 48.9%. In a year, NTPC gained by 85.74% and 76.66%.
NTPC and Power Grid gained higher than Reliance Power between January 1 and September 11, 2024. NTPC was up by 62.82 percent and Power Grid had zoomed by 67.14%, while Reliance Power till that time had only advanced by 53.95%.
In a span of 12 trading sessions, from September 12 to September 28 of this year, Reliance Power outperformed with gains of 56.2%, against NTPC and Power Grid which only gained by 7.9% and 4.75% respectively.