Meanwhile, the company has already returned to profitability at Q2FY25, recording a profit of Rs 2,878.15, driven by an exceptional profit of Rs 3,230.42 after the detachment of the subsidiary.
Q3FY25 saw revenue from the business fall 4.6% to 1,852 crore, compared to 1,943 crore in the same period last year. Meanwhile, expenses fell 33% to Rs 2,109.56 trillion, down 33% from Rs 3,167.49 last year.
The Auditors of Reliance Power highlighted the significant uncertainty regarding the financial position of its subsidiary, Rajasthan Sun Technique Energy (RSTEPL).
Management claims that entity accounts are prepared based on ongoing concerns, citing ongoing discussions with lenders for debt settlement. I’m doing it. The company is also pursuing regulatory compensation related to fluctuations in foreign exchange rates and changes in direct normal irradiance (DNI).
Read again: News Stock: ITC, SBI, Airtel, Swiggy, AZAD Engineering “The Group is able to meet its liabilities in the normal course of business and through time-limited monetization of gas-based power plants and other subsidiaries. I am confident. Therefore, the unconsolidated, unaudited financial results of the group are being prepared based on ongoing concerns,” the auditor’s memo states.
Also Read: News Stock: ITC, SBI, Airtel, Swiggy, Azad Engineering
Reliance Power shares technical metrics
Technically, the stock’s relative strength index (RSI) is 49.5. According to Trendlyne, RSIs below 30 are considered oversold, with over 70 showing terms of being bought. Furthermore, the MACD stands at -0.9 below the centerline, indicating a bearish indicator.
Stocks are below the simple 30-day, 50-day, 100-day moving average (SMA), but are trading above the 5-day, 10-day, 20-day, 150-day, and 200-day SMA.
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Reliance Power stock performance
On Wednesday, Reliance Power shares closed at Rs 39.9, down 0.05% on BSE, while benchmark Sensex fell 0.4%. Stocks have fallen 11% since the start of the year, but have risen 239% over the past two years. The company’s market capitalization is Rs 16,023.
(Disclaimer: The recommendations, suggestions, opinions and opinions given by experts are yours. (These do not represent views of the economic era)
