Reliance Power share price: Anil Ambani-owned ADAG stock hits 52-week high after order from THIS Navratna PSU

Reliance Power share price: Shares of Reliance Power zoomed over 15 per cent to hit a fresh 52-week high on Friday, May 30, continuing its winning streak for two consecutive sessions since Wednesday. The Anil Dhirubhai Ambani Group (ADAG) stock has risen ever since the Reliance Group energy company bagged an order from the Navratna public sector undertaking (PSU) SJVN, the hydroelectric power generation giant, earlier this week. 

In a fresh uptrend, the Anil Ambani-owned ADAG stock has rallied eight per cent in the last five sessions. Reliance Power has also delivered massive multi-bagger returns to investors over the last one- to five-year time periods.

Reliance Power bags order from SJVN

Reliance Power on May 28 had announced that its subsidiary Reliance NU Energies has received a Letter of Award (LOA) for a 350 MW inter-state transmission system (ISTS)-connected solar power project coupled with a 175 MW/700 MWh Battery Energy Storage System (BESS) from Navratna PSU SJVN.

Once commissioned, the platform will add nearly 600 MW of solar DC capacity and 700 MWh of BESS capacity to Reliance Power’s portfolio, consolidating its leadership in new energy solutions, a company statement said.

According to Reliance Power, the company's total clean energy pipeline now stands at 2.4 GW of Solar DC capacity and over 2.5 GWH of BESS capacity, making it India's largest player in the integrated Solar and BESS segment

Reliance NU Energies had earlier emerged as the bidder in the auction conducted by SJVN, securing the project at a fixed tariff of ₹3.33/kWh for 25 years. The project was part of a larger 1,200 MW solar and 600 MW/2,400 MWh BESS tender, which attracted 19 developers, with 18 qualifying for the final e-reverse auction. The tender was oversubscribed by over four times, reflecting industry interest in dispatchable renewable energy solutions.

Reliance Power share price trend

Shares of Reliance Power have rallied 45 per cent in one month and 30 per cent year-to-date (YTD). The ADAG multibagger stock has delivered 136.6 per cent returns in one year, 361.11 per cent in three years, and massive 2,957.89 per cent returns in the last five years.

On Friday, shares of Reliance Power opened at ₹52.59 and rallied over 15 per cent to hit an upper circuit of ₹60.50, before settling 11.35 per cent higher at ₹58.16 apiece on the BSE. The ADAG company commands a market cap of ₹23,362.70 crore.

ADAG stocks refer to the publicly traded shares of companies within the Anil Ambani Group, a conglomerate led by top businessman Anil Ambani, brother of India's top billionaire industrialist, Mukesh Ambani.

Reliance Power, part of the Reliance Group, is one of India's leading private sector power generation companies. The company has an operating portfolio of 5,305 megawatts, which includes 3,960 megawatts of Sasan Power Ltd -- the world's largest integrated coal-based power plant.

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