Reliance Power shares tank nearly 6%; analysts see more downside
Earlier this month, the company issued a clarification denying media reports that alleged Enforcement Directorate (ED) raids at locations linked to Reliance Power.
- Mar 27, 2026,
- Updated Mar 27, 2026 4:26 PM IST
Shares of Reliance Power Ltd declined sharply on Friday, snapping a two-day upward movement. The stock fell 5.82 per cent to settle at Rs 21.35. At this closing price, it has plunged 52.53 per cent over the past six months.
Earlier this month, the company issued a clarification denying media reports that alleged Enforcement Directorate (ED) raids at locations linked to Reliance Power.
"This is in reference to various media reports alleging that the Enforcement Directorate has conducted raids at locations linked to Reliance Power Ltd. In this regard, the Company would like to clarify that, to the best of its knowledge, no such action has been carried out at any of the offices or premises of the Company," the company said.
From a technical perspective, some analysts largely maintained a bearish stance on the stock.
Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, stated, "RPower has been in a secular downtrend, with no sign of technical respite or a pullback. The counter is hovering below the short-term EMA, implying inherent weakness. On the levels front, the Rs 25-26 subzone is likely to act as a formidable barrier and a sustained breach could only provide some respite in the counter. On the contrary, with the ongoing structure, any breakdown below Rs 20 is likely to aggravate correction towards the Rs 18-17 zone in the coming future."
Kunal Kamble, Senior Technical Research Analyst at Bonanza, said, "Reliance Power is in a clear downtrend, forming consistent lower highs and lower lows on both daily and weekly timeframes, indicating sustained selling pressure. The stock has decisively broken an important support zone, suggesting a continuation of the bearish trend. Price remains below all major short-term and long-term EMAs, reinforcing weakness. Avoid fresh positions and maintain strict stop loss discipline for existing holdings."
According to AR Ramachandran, a Sebi-registered research analyst at Tips2trades, "The stock is bearish on daily charts with strong resistance at Rs 23.5. A daily close below the support of Rs 20.8 could lead to a downward target of Rs 18.7 in the near term."
Promoters held a 24.98 per cent stake in Reliance Power as of December 2025.
Shares of Reliance Power Ltd declined sharply on Friday, snapping a two-day upward movement. The stock fell 5.82 per cent to settle at Rs 21.35. At this closing price, it has plunged 52.53 per cent over the past six months.
Earlier this month, the company issued a clarification denying media reports that alleged Enforcement Directorate (ED) raids at locations linked to Reliance Power.
"This is in reference to various media reports alleging that the Enforcement Directorate has conducted raids at locations linked to Reliance Power Ltd. In this regard, the Company would like to clarify that, to the best of its knowledge, no such action has been carried out at any of the offices or premises of the Company," the company said.
From a technical perspective, some analysts largely maintained a bearish stance on the stock.
Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, stated, "RPower has been in a secular downtrend, with no sign of technical respite or a pullback. The counter is hovering below the short-term EMA, implying inherent weakness. On the levels front, the Rs 25-26 subzone is likely to act as a formidable barrier and a sustained breach could only provide some respite in the counter. On the contrary, with the ongoing structure, any breakdown below Rs 20 is likely to aggravate correction towards the Rs 18-17 zone in the coming future."
Kunal Kamble, Senior Technical Research Analyst at Bonanza, said, "Reliance Power is in a clear downtrend, forming consistent lower highs and lower lows on both daily and weekly timeframes, indicating sustained selling pressure. The stock has decisively broken an important support zone, suggesting a continuation of the bearish trend. Price remains below all major short-term and long-term EMAs, reinforcing weakness. Avoid fresh positions and maintain strict stop loss discipline for existing holdings."
According to AR Ramachandran, a Sebi-registered research analyst at Tips2trades, "The stock is bearish on daily charts with strong resistance at Rs 23.5. A daily close below the support of Rs 20.8 could lead to a downward target of Rs 18.7 in the near term."
Promoters held a 24.98 per cent stake in Reliance Power as of December 2025.