Reliance Power Shares Jump 18% To ₹29.40, AI-Focused Subsidiary Revamp Ends 4-Day Losing Streak
Mumbai: Shares of Reliance Power rallied sharply on Wednesday, rising nearly 18 percent during intraday trade after the company announced its entry into the fast-growing artificial intelligence (AI) and new-age technology space.
The stock surged to an intraday high of Rs 29.40. At around 1:11 pm, the stock was trading at Rs 27.86, still up 12.16 percent or Rs 3.02, compared with the previous close of Rs 24.84.
This strong rally also ended the stock’s four-session losing streak, attracting fresh investor interest.
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In a regulatory filing, Reliance Power said it has taken enabling steps to expand into AI and technology-driven activities through its subsidiaries.
As part of this move, the company added business objects related to AI and technology-enabled services within its corporate framework.
The company also renamed four subsidiaries to reflect its new strategy:
- Reliance AI Green Power Private Limited
- Reliance AI Power Private Limited
- Reliance AI Data Control Private Limited
- Reliance AI Data C Private Limited
This signals the company’s intention to explore opportunities in AI-linked infrastructure, data management and digital services.
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Reliance Power opened at Rs 25.14, slightly above its previous close.
Strong buying pushed the stock higher through the session. It touched a day’s low of Rs 24.97 before jumping sharply.
The company currently has a market capitalisation of around Rs 11,520 crore. Its 52-week high is Rs 70.90, while the 52-week low stands at Rs 20.17.
Financial Performance
Despite the stock rally, the company’s recent financial performance remained weak.
Reliance Power reported a consolidated net loss of Rs 494 crore in Q4, compared with a profit of Rs 125.57 crore in the year-ago quarter.
Total income also declined to Rs 1,946.33 crore from Rs 2,065.64 crore.
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