Market watchers woke up to a bit of a headache this morning. If you've been tracking the reliance power share price today, you've probably noticed that the ticker isn't exactly screaming "bull run." As of January 15, 2026, the stock is hovering around ₹33.20 on the National Stock Exchange (NSE). It's been a choppy ride. We saw an opening at ₹33.40, a brief peek at a high of ₹33.80, and a dip down to ₹33.02. Honestly, it's the kind of sideways movement that makes day traders reach for the extra-strength coffee.
But look, there's a much bigger story under the hood than just a few decimal points of movement. While the 52-week high of ₹76.49 feels like a distant memory from last year, the current valuation reflects a company basically trying to reinvent its entire DNA.
The SEBI Forensic Audit: Why the Market is Nervous
You can't talk about the reliance power share price today without mentioning the massive elephant in the room. Just yesterday, January 14, 2026, the company dropped a regulatory bombshell. SEBI has initiated a forensic audit. They are looking into alleged violations of the SEBI Act, the Securities Contracts (Regulation) Act, and the Companies Act of 2013.
When "forensic audit" appears in a filing, investors usually start looking for the exit. It’s a heavy term. It implies that the regulator wants to dig through the books to see if everything is as it seems. This specific audit is tied to broader investigations into the Anil Ambani group. Just days ago, the Bombay High Court started hearing pleas from major lenders like Bank of Baroda and IDBI Bank regarding similar issues in other group entities like Reliance Communications.
For a retail investor, this adds a layer of "speculative" risk that fundamental analysis can't always account for.
Financial Turnaround or Just a Pulse?
If you ignore the legal drama for a second—kinda hard, I know—the actual business numbers show some grit. Reliance Power actually turned profitable in the previous fiscal cycle. We're talking about a net profit of ₹42 crore in Q3 compared to a massive ₹1,137 crore loss in the same period the year prior. That’s not a typo.
📖 Related: Lbs per Metric Ton: The Math Most Pros Get Wrong
How did they do it?
- Drastic Expense Cutting: They slashed total expenses by about 33%.
- Operational Efficiency: The Sasan Ultra Mega Power Project in Madhya Pradesh is still a beast, operating at a 93% plant load factor (PLF).
- Debt Reduction: The debt-to-equity ratio, which used to be a nightmare, dropped from 1.61 to roughly 0.86.
The company is currently pushing a major "debt-free" narrative, even claiming a net worth of over ₹16,000 crore. But here’s the kicker: auditors have still raised flags about subsidiaries like Rajasthan Sun Technique Energy, which has struggled with defaults. It’s a mixed bag. You've got a profitable core business tied to some legacy anchors that just won't let go.
The Pivot to Defense and Green Energy
Anil Ambani's group isn't just sitting around waiting for audits to finish. They recently unveiled an ambitious ₹18,000 crore expansion plan. They want to be a top player in Defense and Renewable Energy.
Specifically, Reliance Power is leaning hard into Battery Energy Storage Systems (BESS). They recently bagged a 930 MW project from the Solar Energy Corporation of India (SECI). This is basically their "Hail Mary" pass to move away from thermal power and join the green energy bandwagon that the Indian government is so fond of right now.
Technical Analysis: What the Charts Say
The technicals for reliance power share price today are, frankly, quite bearish. The stock is trading well below its 50-day and 200-day moving averages (DMA). The 200-DMA is sitting way up near ₹46.99, while the price struggles in the low 30s.
- RSI (Relative Strength Index): Currently around 38. This isn't quite "oversold" (which is typically below 30), but it’s definitely in the "nobody wants to buy this right now" zone.
- Support Levels: There’s some psychological support at ₹31.27 (the 52-week low). If it breaks that, things could get ugly.
- Resistance: Any upward move is going to hit a wall at ₹37.00. That’s the consensus analyst target for March 2026, but reaching it feels like an uphill battle given the current SEBI news.
Actionable Insights for Investors
If you're holding or thinking about buying, you've gotta be honest with yourself about your risk tolerance. This is not a "safe" blue-chip utility stock. It’s a high-volatility turnaround play with significant legal baggage.
- Watch the Audit: Keep a close eye on the SEBI forensic audit updates. Any "clean chit" would likely cause a massive short-squeeze and a price spike. Conversely, any finding of "fraud" could be devastating.
- Focus on BESS: The company's success in the BESS and solar space is the only real long-term growth driver. If they can't execute on the 930 MW SECI project, the "green" premium will vanish.
- Position Sizing: If you must play this, don't bet the house. Use "play money" that you can afford to lose if the regulatory environment sours further.
- The March 2026 Horizon: Analysts are targeting ₹37.00 by the end of the fiscal year. That’s a roughly 10-12% upside from current levels, but the risk-to-reward ratio is skewed heavily by the pending forensic investigation.
Bottom line? The reliance power share price today reflects a market that is fundamentally confused. On one hand, you have a lean, profitable power producer. On the other, you have a group mired in legal battles and regulatory scrutiny. It's a classic case of "buying the fear," but you need to make sure the fear doesn't turn into a permanent reality.