Reliance Power Limited is an Indian power generation company that is developing coal, gas, and hydroelectric power projects across India. It is part of the Reliance Anil Dhirubhai Ambani Group and promotes projects totaling over 29,000 MW of generation capacity, including coal, gas, and hydroelectric projects. The company has received United Nations registration for some of its projects to earn carbon credits for employing technologies that reduce carbon emissions. In this report, Reliance Power is rated a "Buy" based on technical indicators showing an upward trend on daily, weekly, and monthly charts.

1. RELIANCE POWER LTD.
 Reliance Power Limited is part of the Reliance Anil Dhirubhai Ambani Group. It was established to develop, construct
and operate power projects in the Indian and international markets. Reliance Energy Limited, an Indian private sector
power utility company and the Anil Dhirubhai Ambani Group promote Reliance Power. The company is the sole
distributor of electricity to consumers in the suburbs of Mumbai. It also runs power generation, transmission and
distribution businesses in other parts of Maharashtra, Goa and Andhra Pradesh.
 The company website identifies project sites broadly to be located in western India (12,220 MW), northern India
(9,080 MW) and northeastern India (4,220 MW) and southern India (4,000 MW). They include six coal-fired projects
(14,620 MW) to be fuelled by reserves from captive mines and supplies from India and abroad, two gas-fired projects
(10,280 MW) to be fuelled primarily by reserves from the Krishna Godavari basin (the "KG Basin") off the east coast of
India, and four hydroelectric projects (3,300 MW), three of them in Arunachal Pradesh and one in Uttarakhand.
 On 2 February 2011 United Nations registered Reliance Power's Sasan Power Plant to be eligible for earning carbon
credits followed by Krishnapatanm Ultra Mega Power Project and Tilaiya Ultra Mega Power Projects. United Nations
issues carbon credits to a company which employs advanced technologies in reducing carbon emission. These carbon
credits can then be sold to those companies that are emitting more than their statutory emission limits.
 Technical Outlook
 On daily chart, the stock has given positive breakout of its upper band of Rectangle Pattern with above average
volume, which is a good sign for upside movement after consolidation. Apart from this, stock has also been trading
above its 100 Day Moving Average (which is placed at 48.25 level), which shows that medium to long term trend is up.
 Volume movement also was appealing during this consolidation period, which point out for gradually increasing of
buying activity.
 On weekly chart, stock has given good upside movement after giving positive breakout of its upper band of
Downward falling channel with above average volume, which indicates that further upside movement can be seen in
few trading session.
 Moreover, stock has also been trading above its 50 Week Moving Average (which is placed at 50.75 level), which
shows that stock’s near to medium term trend is up and could further accelerate its upside movement from the
present level.
 Even on monthly chart, stock has formed Long Leg of Lower Shadow candlestick which is a continuation pattern of
contemporary trend.
 A momentum indicator RSI has also given positive breakout of its upper band of falling wedge pattern, which point
out for positive breath in the stock.
Company RPOWER
Recommendation Buy
Sector : Power Gene./Distri.
CMP : 54.70 & Upto 53.10
Price Potential : 66.50
Stop Loss (Closing Basis): 50
Mkt Cap (Rs. Cr.): 15,330
TTM EPS (Rs.) 4.35
TTM Sales (Rs. Cr.) 8807
BVPS (Rs.) 76.03
Reserves (Rs. Cr.) 18,523
P/BV 0.72
PE 12.56
Bloomberg Code : RPWR:IN
Reuters Code : RPOL.NS
TW = Twelve Months
TTM= Trailing 12 months
SEBI Registered – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Pick of the Week: RELIANCE POWER LTD.
26th Dec, 2015
www.choiceindia.com *Please Refer Disclaimer on Website

2. Pick of the Week: RELIANCE POWER LTD.
26th Dec, 2015
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual FundsSEBI Registered – Research Analyst Equities I Commodities I Currencies I Mutual Funds
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DN: cn=Kunal Parmar, o=Choice Equity Broking Pvt Ltd.,
ou=Research Dept, email=kunal.parmar@choiceindia.com, c=IN
Date: 2015.12.26 15:57:13 +05'30'