Stock market analysts have maintained ‘buy’ rating on Reliance Power Limited (RPL) stock with an intraday target of Rs 168. 

According to them, interested traders can purchase the stock above Rs 166 with a strict stop loss of Rs 164. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 170. 
 
Shares of the company, on Thursday (Sep 25), closed at Rs 164.85 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 3306271. The share price has seen a 52-week high of Rs 377.94 and a low of Rs 116.30 on BSE. 

The stock has good potential and it can still exhibit superb surge. It will achieve the target price on the back of its healthy expansion plans and strong operating abilities.

Reliance Power (Sep 24) has decided to invest more than Rs 600 billion in renewable and alternative energy resources including hydroelectric, wind, solar and fuel cell-based power.

The company also announced that it would tie up funding of Rs 360 billion by 2008 for two ultra mega power projects of 4,000 mw capacity each in Sasan and in Krishnapatnam.

Reliance Power has appointed a group to watch opportunities in the country’s nuclear power industry and held talks with global players.

The government may assign Coal India-held Semaria block to RPower for its Sasan ultra mega power project (UMPP).

RPL will lift up Rs 25 billion from IDBI Bank for setting up an ultra mega power project (UMPP) at Krishnapatnam in Andhra Pradesh.

R-Power’s plan to lift $2 billion through overseas banking institutions for the proposed 4,000 megawatt (mw) project was recently sanctioned by the India’s central bank (RBI). 

ABN Amro, Standard Chartered and HSBC are also making discussions with the company to fund the project.

Other stocks from the same sector that looks good for short-term as well as long-term trading includes NTPC, Tata Power and Power Grip Corp.