- By Aditya Pratap Singh
- Mon, 18 Nov 2024 04:13 PM (IST)
- Source:JND
Reliance Power Share Price slumped 5% to close at Rs 34.13 per share Monday on NSE. In the intraday trade, the Anil Ambani-led power stock opened at Rs 35.93 per share and touched the intraday high of Rs 36.00 per share in the morning. However, shares took u-turn and fell 5.01% to hit an intraday low at Rs 34.13 per share, which is today's closing point as well.
Reliance Power, which was earlier considered a multi-bagger stock, have been trading in the red for the last 7 trading sessions after Solar Energy Corporation of India (SECI) barred the company and subsidiaries from participating in bids to get solar projects.
Reliance Power Shares Fall 36% From Its 52-week high
The shares of reliance power fell over 36% from its 52-week high of Rs 53.64. In the last leg of September and the first week of October, the stock was trading over the Rs 50 mark. Today i.e. on November 18, the stock closed at Rs 34.13, falling 36.4 per cent from the 52-week high.
Plunges 13% in a week
Reliance Power's Share Price Plunged over 13 per cent in the last 7 days. Meanwhile, the shares hit a lower circuit two times on November 11 and November 13. On November 11 last week, Reliance Power was at the level of Rs 39.50 per share, the shares closed at Rs 34.13 today, falling 13.59%.
Relaince Power Share Fall 19% In the Last 30 Days
Reliance Powers gave a shock to its investors with a plunge of over 19% in the last 30 days. The stock was at the level of Rs 41.75 on October 21 and it slumped 8.47 rupees or 19.88% per cent since then. In the initial 4 trading sessions of the 30 days time frame, the Relaince Powerstock was on a recovery path and it hit two upper circuits on October 23 and 24, surging 5% on each trading session. The rally was fueled after one of the Reliance Powe subsidiaries became debt-free.