New Delhi: Power stocks have performed very well in the last few sessions. Several investors are looking for good stocks in the power sector, especially after the since the kind of returns given by Suzlon.
Investors are looking for power stocks which can prove to be profitable. In this article, we will take a look at the two stocks: Reliance Power and JP Power. Let us tell you in detail about these two shares and what the expert is saying.
A spectacular rise was seen in the shares of Reliance Power on the last trading day. Yesterday, the shares of Reliance Power rose but its current share price is Rs 41.58, down by 5 per cent. In the last month, the stock had seen a decline of more than 5 per cent. But it has made a good recovery this week.
Reliance Power share price
However, it has given a profit of more than 124 per cent to its investors in one year. At the same time, it has given bumper profit of more than 800 per cent in 5 years. If we look at its 52-week range, this stock had a low of Rs 18.35 and a high of Rs 53.64.
Sharad Mishra, a market expert, in a conversation with Money9Live, said that stock of the Reliance Power has a good demand zone between Rs 39 to Rs 40 and he has urged to maintain the position until it breaks. But no one should go for immediate purchases and when the share price goes above Rs 43 and sustains for 2 days, then one can buy new stocks of it.
JP Power share price
The shares of JP Power are currently at Rs 18.03. The stock has seen a decline of more than 1 per cent in the last week but has given a profit of more than 44 per cent in one year. The stock has surged over 1,500 per cent in 5 years. On March 11, 2020, its share price was trading at 40 paise. Since then, the stock has rallied.
According to Sharad Mishra, there is good demand in the power sector. In the share price of JP Power, there is a base between Rs 16.80 to Rs 17 one should maintain the base until this supply zone is broken. But good growth will be seen in this stock only when it goes above Rs 19. After which it may go up to the level of Rs 24.
