Buy Reliance Power With Stop Loss Of Rs 157
Stock market analyst Sudarshan Sukhani has maintained 'buy' rating on Reliance Power Ltd stock to achieve a target of Rs 167.
According to analyst, the interested investors can buy the stock with a strict stop loss of Rs 157.
The stock of the company, on Sep 24, closed at Rs 160.75 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 189.80 and a low of Rs 137 on BSE.
As per reports, Reliance Power Ltd is accelerating growth of its mines in the Indonesian market with the intention to meet up the production agends at its imported coal-based ultra mega power project at Krishnapatnam.
The company's arm, Reliance Coal Resources (RCRPL), had got hold of three coal mines in Indonesia in May 2008.
Reliance Power is setting up railway infrastructure in order to channelize coal from the mines that are in South Sumatra to the port.
As per sources, the company has also bagged offers to set up power projects in Indonesia during its talks with the administration.
On Sep 07, the demerger of RNRL and R-Power has been sanction by their respective boards, allowing R-Power control over power projects plus supply of fuel earlier possessed by RNRL, making a Rs 50,000 crore unit.