Forget about Mukesh Ambani, Gautam Adani as Anil Ambani races ahead in earnings, details inside

Reliance Power shares have been on an upward trend since the Union Budget 2024. On July 23, 2024, Reliance Power's share price closed at Rs 26.94 per share on the NSE. Since then, it has consistently reached new 52-week highs. In the post-Budget 2024 period, this Reliance Anil Dhirubhai Ambani Group (Reliance ADAG) stock has climbed from Rs 26.94 to Rs 34.54 per share, marking an approximate 30 percent increase over eight consecutive sessions.

Stock market experts attribute this surge to Reliance Power becoming a debt-free company on a standalone basis. The company has settled its Rs 800 crore dues, positioning it to compete with other private power sector companies in FY25. The Budget 2024, which emphasises growth in power and infrastructure, is expected to benefit the company's balance sheet in FY25, sparking investor interest in Reliance Power shares. However, experts note that despite becoming debt-free, the company faces significant challenges regarding its order book, which are anticipated to be addressed in the coming quarters of the current fiscal year.

As of August 2, Reliance Power's market capitalisation stood at Rs 13,886.67 crore, up from Rs 10,813.68 crore on July 23.