Technical analyst PK Agarwal of Purpleline Investments is bullish on Reliance Power Ltd and maintained ‘hold’ rating on the stock with a stop loss of Rs 140.
Today, the shares of the company opened at Rs 285 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 210 and a low of Rs 127.10 on BSE.
Reliance Power Ltd will announce its audited financial results for the year ended March 31, 2010 today.
Reliance Power Ltd, a part of the Reliance Anil Dhirubhai Ambani Group, is set up to expand, build and run power projects domestically as well as globally.
Reliance Power on its own and via its divisions is presently developing 16 large and medium sized power ventures with a joint planned installed competence of 33,780 MW.
Reliance Power got listed on the bourses on February 11, 2008.
Reliance Power has been winning in pocketing three Ultra Mega Power Projects (3,960 MW each at Sasan in Madhya Pradesh & Tilaiya in Jharkhand and 4,000MW at Krishnapatnam in Andhra Pradesh). The 7,480 MW project to be situated at Dadri in Uttar Pradesh is likely to be the major gas-fired power venture at a single place in the world.