Reliance Power shares up by 10% today: What's the reason?
What's the story
Reliance Power's share price skyrocketed by over 10% to ₹27.45 apiece on the Bombay Stock Exchange (BSE) today. The surge comes after the company announced its plans to enter the artificial intelligence (AI) and new-age technology sectors through its subsidiaries. The move has ended a four-day losing streak for the stock.
Subsidiary rebranding
Four subsidiaries rebranded to reflect AI focus
As part of its AI push, Reliance Power has rebranded four of its subsidiaries. The new names are Reliance AI Green Power Private Limited, Reliance AI Power Private Limited, Reliance AI Data Control Private Limited, and Reliance AI Data C Private Limited. This strategic move is aimed at reflecting the company's commitment to embracing advanced technologies in its operations.
Financial overview
Company posts ₹494cr loss for March quarter
Despite the stock surge, Reliance Power has reported a consolidated net loss of ₹494 crore for the quarter ending March 31. This is in stark contrast to a consolidated net profit of ₹125.57 crore during the same period last year. The company's total income also fell to ₹1,946.33 crore during this quarter from ₹2,065.64 crore a year ago.
Annual performance
FY26 net loss at ₹336.89cr
For FY26, Reliance Power reported a net loss of ₹336.89 crore against a profit of ₹2,947.83 crore in FY25. The company is part of the Reliance Group and develops power generation projects in India and abroad. It has an operational power generation capacity of nearly 6,000MW with a diversified portfolio of operational and under-development assets across geographies using different fuel types.