Reliance Power Shares Surge 40% in April, Leaving Investors to Weigh Prospects Ahead of Q4 Earnings 2026

Reliance Power Share Price Skyrockets Amid Indian Stock Market Rally

The Reliance Power share price has been on a tear, attracting the attention of Dalal Street bulls. On Tuesday, the Anil Ambani-owned stock opened with an upside gap and touched an intraday high of ₹28.66 per share, logging a gain of over 2% during trading. This surge in the Reliance Power share price comes on the back of a 40% rise in April 2026. The stock had finished at ₹20.36 per share on the last trading session of March 2026.

The rally in Reliance Power share price is not without reason. According to stock market experts, the company's debt-free status has driven value buying at lower levels. This strong fundamental has provided a boost to the stock, making it attractive to investors. The technical chart also suggests a potential shift in the long-term trend from bearish to bullish, with a clear trendline breakout on the weekly chart.

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The company's recent achievement of debt-free status has been a significant trigger for the stock's rise. This status has provided a sense of security to investors, making them more willing to buy the stock at lower levels. However, experts caution that the current rally is partly speculative and sentiment-driven, with no clear trigger yet for the sharp rise ahead of Q4 results 2026.

From an investment perspective, the fundamentals do show signs of restructuring and a genuine turnaround in progress. However, without confirmation through consistent earnings, cash flow visibility, or a clear business trigger, entering at current levels carries risk. It is more prudent to wait for confirmation, either through Q4 results or tangible developments, before taking a strong view.

Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, suggests that traders may consider buying at the current price with a strict stop-loss at ₹20 to manage risk. The immediate resistance for Reliance Power shares lies in the ₹36 to ₹40 zone, which marks a previous supply area. A sustained breakout above this range could push the stock towards the ₹45 level.

Anil Ambani's shareholding in Reliance Power is relatively low, with a 0.01% stake in the company. His wife, Tina Ambani, and son, Anmol Ambani, hold 0.01% stakes in the company, while his mother, Kokila D Ambani, holds a 0.02% stake.

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