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    RELIANCE POWER LTD. Share Price Today

    RELIANCE POWER LTD. is currently trading at ₹24.44, down by ₹0.14 from the previous close. The stock touched an intraday high of ₹24.80 and a low of ₹24.20 during the latest trading session. Over the past one year, RELIANCE POWER LTD. has delivered a loss of 62.46%, while the stock has declined 8.97% in the last one month.

    RELIANCE POWER LTD. performance

    Today’s low Today’s high
    ₹ 24.20 ₹ 24.80
    ₹ 24.44
    52 week low 52 week high
    ₹ 20.17 ₹ 66.60
    ₹ 24.44
    Open Price ₹ 24.79
    Prev. Close ₹ 24.59
    Volume (Shares) 15894598.00
    Total traded value ₹ 3884.63
    Upper Circuit ₹ 29.50
    Lower Circuit ₹ 19.68
    info

    Investment Returns

    Over 1 Month -8.97% Over 3 Months -14.78% Over 6 Months -21.44% Over 1 Year -62.46%
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    RELIANCE POWER LTD. fundamentals


    • Market cap (Cr) 10,107.80
    • P/E Ratio (TTM) 814.67
    • Beta 1.76
    • Book Value / share 23.59
    • Return on equity 0.00%
    • EPS (TTM) 0.03
    • Dividend yield 0.00%
    • Net profit/quarter (Cr) 7.41
    info icon alternate text
    • Market cap (Cr) 10,107.80
    • P/E Ratio (TTM) 814.67
    • Beta 1.64
    • Book Value / share 23.59
    • Return on equity 0.00%
    • EPS (TTM) 0.03
    • Dividend yield 0.00%
    • Net profit/quarter (Cr) 7.41
    info icon alternate text

    RELIANCE POWER LTD. Financials

    • Key Results
    • Key Ratios
    • Balance sheet
    • Cash Flow
    • Competition
    Open financial information
    Revenue
    Net income
    Particulars MAR 2026 (Values in Cr)
    Revenue 0.00
    Operating Expense 16.87
    Net Profit 7.41
    Net Profit Margin (%) 0.00
    Earnings Per Share (EPS) 0.02
    EBITDA 23.48
    Effective Tax Rate (%) 0.00
    Particulars DEC 2025 (Values in Cr)
    Revenue 0.09
    Operating Expense 24.50
    Net Profit -0.67
    Net Profit Margin (%) -744.44
    Earnings Per Share (EPS) 0.00
    EBITDA 15.79
    Effective Tax Rate (%) 0.00
    Particulars SEP 2025 (Values in Cr)
    Revenue 1.03
    Operating Expense 31.96
    Net Profit 4.73
    Net Profit Margin (%) 459.22
    Earnings Per Share (EPS) 0.01
    EBITDA 21.07
    Effective Tax Rate (%) 0.00
    Particulars JUN 2025 (Values in Cr)
    Revenue 0.51
    Operating Expense 22.02
    Net Profit 1.90
    Net Profit Margin (%) 372.54
    Earnings Per Share (EPS) 0.01
    EBITDA 17.24
    Effective Tax Rate (%) 0.00
    Particulars MAR 2025 (Values in Cr)
    Revenue 0.00
    Operating Expense 122.21
    Net Profit -101.35
    Net Profit Margin (%) 0.00
    Earnings Per Share (EPS) -0.25
    EBITDA -86.76
    Effective Tax Rate (%) 0.00
    Particulars MAR 2026 (Values in Cr)
    Revenue 1.63
    Operating Expense 95.35
    Net Profit 13.37
    Net Profit Margin (%) 820.24
    Earnings Per Share (EPS) 0.03
    EBITDA 77.58
    Effective Tax Rate (%) 0.00
    Particulars MAR 2025 (Values in Cr)
    Revenue 0.00
    Operating Expense 195.07
    Net Profit -94.10
    Net Profit Margin (%) 0.00
    Earnings Per Share (EPS) -0.23
    EBITDA -26.01
    Effective Tax Rate (%) 0.00
    Particulars MAR 2024 (Values in Cr)
    Revenue 0.00
    Operating Expense 176.19
    Net Profit 48.95
    Net Profit Margin (%) 0.00
    Earnings Per Share (EPS) 0.13
    EBITDA 142.67
    Effective Tax Rate (%) 0.00
    Particulars MAR 2023 (Values in Cr)
    Revenue 0.00
    Operating Expense 485.06
    Net Profit 654.71
    Net Profit Margin (%) 0.00
    Earnings Per Share (EPS) 1.88
    EBITDA 839.37
    Effective Tax Rate (%) 0.00
    Particulars MAR 2022 (Values in Cr)
    Revenue 41.89
    Operating Expense 454.46
    Net Profit -277.32
    Net Profit Margin (%) -662.01
    Earnings Per Share (EPS) -0.86
    EBITDA 151.39
    Effective Tax Rate (%) -2.55
    Particulars MAR 2025 (Values in Cr)
    Book Value / Share 36.23
    ROE % -1.13
    ROCE % 5.79
    Total Debt to Total Equity 1.26
    EBITDA Margin 37.11
    Particulars MAR 2024 (Values in Cr)
    Book Value / Share 28.91
    ROE % 0.00
    ROCE % 0.00
    Total Debt to Total Equity 1.72
    EBITDA Margin 21.02
    Particulars MAR 2023 (Values in Cr)
    Book Value / Share 30.83
    ROE % 0.00
    ROCE % 0.00
    Total Debt to Total Equity 1.90
    EBITDA Margin 29.60
    Particulars MAR 2022 (Values in Cr)
    Book Value / Share 34.06
    ROE % 0.00
    ROCE % 0.00
    Total Debt to Total Equity 2.03
    EBITDA Margin 39.01
    Particulars MAR 2021 (Values in Cr)
    Book Value / Share 43.66
    ROE % 3.76
    ROCE % 7.21
    Total Debt to Total Equity 2.26
    EBITDA Margin 51.18
    Particulars MAR 2025 (Values in Cr)
    Book Value / Share 22.56
    ROE % 0.00
    ROCE % 0.00
    Total Debt to Total Equity 0.55
    EBITDA Margin 0.00
    Particulars MAR 2024 (Values in Cr)
    Book Value / Share 23.39
    ROE % -0.60
    ROCE % 0.21
    Total Debt to Total Equity 0.53
    EBITDA Margin 0.00
    Particulars MAR 2023 (Values in Cr)
    Book Value / Share 23.52
    ROE % -4.09
    ROCE % -1.28
    Total Debt to Total Equity 0.64
    EBITDA Margin -616.40
    Particulars MAR 2022 (Values in Cr)
    Book Value / Share 26.45
    ROE % 0.00
    ROCE % 0.00
    Total Debt to Total Equity 0.71
    EBITDA Margin 361.40
    Particulars MAR 2021 (Values in Cr)
    Book Value / Share 31.71
    ROE % 0.59
    ROCE % 2.96
    Total Debt to Total Equity 0.77
    EBITDA Margin 1268.93
    Particulars MAR 2025 (Values in Cr)
    Cash & Short Term Investments 973.37
    Total Assets 41282.92
    Total Liabilities 41282.92
    Total Equity 16337.18
    Share Outstanding 401
    Price to Book Ratio 1.91
    Return on Assets (%) 7.14
    Return on Capital (%) 9.36
    Particulars MAR 2024 (Values in Cr)
    Cash & Short Term Investments 917.60
    Total Assets 43758.01
    Total Liabilities 43758.01
    Total Equity 11613.86
    Share Outstanding 401
    Price to Book Ratio 1.21
    Return on Assets (%) -4.72
    Return on Capital (%) -6.81
    Particulars MAR 2023 (Values in Cr)
    Cash & Short Term Investments 651.16
    Total Assets 48535.42
    Total Liabilities 48535.42
    Total Equity 13287.13
    Share Outstanding 373
    Price to Book Ratio 0.42
    Return on Assets (%) -0.96
    Return on Capital (%) -1.36
    Particulars MAR 2022 (Values in Cr)
    Cash & Short Term Investments 644.38
    Total Assets 49811.66
    Total Liabilities 49811.66
    Total Equity 13385.23
    Share Outstanding 340
    Price to Book Ratio 0.51
    Return on Assets (%) -1.93
    Return on Capital (%) -2.64
    Particulars MAR 2021 (Values in Cr)
    Cash & Short Term Investments 315.21
    Total Assets 50781.83
    Total Liabilities 50781.83
    Total Equity 13813.85
    Share Outstanding 280
    Price to Book Ratio 0.14
    Return on Assets (%) 0.45
    Return on Capital (%) 0.58
    Particulars MAR 2025 (Values in Cr)
    Cash & Short Term Investments 2.35
    Total Assets 17124.89
    Total Liabilities 17124.89
    Total Equity 9705.88
    Share Outstanding 401
    Price to Book Ratio 1.91
    Return on Assets (%) -0.54
    Return on Capital (%) -0.59
    Particulars MAR 2024 (Values in Cr)
    Cash & Short Term Investments 12.74
    Total Assets 14806.67
    Total Liabilities 14806.67
    Total Equity 9397.15
    Share Outstanding 401
    Price to Book Ratio 1.21
    Return on Assets (%) 0.33
    Return on Capital (%) 0.36
    Particulars MAR 2023 (Values in Cr)
    Cash & Short Term Investments 2.14
    Total Assets 15963.66
    Total Liabilities 15963.66
    Total Equity 8865.52
    Share Outstanding 373
    Price to Book Ratio 0.42
    Return on Assets (%) 4.10
    Return on Capital (%) 4.59
    Particulars MAR 2022 (Values in Cr)
    Cash & Short Term Investments 6.86
    Total Assets 17483.22
    Total Liabilities 17483.22
    Total Equity 9177.02
    Share Outstanding 340
    Price to Book Ratio 0.51
    Return on Assets (%) -1.58
    Return on Capital (%) -1.81
    Particulars MAR 2021 (Values in Cr)
    Cash & Short Term Investments 6.10
    Total Assets 17567.92
    Total Liabilities 17567.92
    Total Equity 8886.64
    Share Outstanding 280
    Price to Book Ratio 0.14
    Return on Assets (%) 0.31
    Return on Capital (%) 0.37
    Particulars MAR 2025 (Values in Cr)
    Net Income 3047.29
    Cash from Operations 1978.72
    Cash from Investing 453.45
    Cash from Financing -2434.95
    Net change in Cash -43.58
    Free Cash Flow 1978.72
    Particulars MAR 2024 (Values in Cr)
    Net Income -2028.15
    Cash from Operations 3189.24
    Cash from Investing -192.27
    Cash from Financing -2734.20
    Net change in Cash 247.50
    Free Cash Flow 3189.24
    Particulars MAR 2023 (Values in Cr)
    Net Income -278.98
    Cash from Operations 4058.54
    Cash from Investing -354.18
    Cash from Financing -3623.14
    Net change in Cash 46.42
    Free Cash Flow 4443.03
    Particulars MAR 2022 (Values in Cr)
    Net Income -879.49
    Cash from Operations 3748.50
    Cash from Investing 283.62
    Cash from Financing -3848.69
    Net change in Cash 48.03
    Free Cash Flow 3944.66
    Particulars MAR 2021 (Values in Cr)
    Net Income 412.17
    Cash from Operations 4161.38
    Cash from Investing 485.60
    Cash from Financing -4614.96
    Net change in Cash 19.26
    Free Cash Flow 4295.34
    Particulars MAR 2025 (Values in Cr)
    Net Income -94.53
    Cash from Operations -10.62
    Cash from Investing -2510.80
    Cash from Financing 2520.89
    Net change in Cash -10.45
    Free Cash Flow -5.66
    Particulars MAR 2024 (Values in Cr)
    Net Income 44.18
    Cash from Operations 24.82
    Cash from Investing -11.10
    Cash from Financing -21.77
    Net change in Cash 10.62
    Free Cash Flow 24.82
    Particulars MAR 2023 (Values in Cr)
    Net Income 654.71
    Cash from Operations -9.93
    Cash from Investing -1.70
    Cash from Financing 10.62
    Net change in Cash -1.02
    Free Cash Flow -9.93
    Particulars MAR 2022 (Values in Cr)
    Net Income -270.40
    Cash from Operations 36.38
    Cash from Investing 7.66
    Cash from Financing -42.57
    Net change in Cash 1.40
    Free Cash Flow 36.38
    Particulars MAR 2021 (Values in Cr)
    Net Income 55.34
    Cash from Operations 49.68
    Cash from Investing -7.38
    Cash from Financing -42.17
    Net change in Cash 0.09
    Free Cash Flow 49.68
    Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
    CESC LTD. 165.15 14.20 1.74 21891.80 138.05 204.40
    TATA POWER CO LTD 377.10 31.04 3.05 120496.25 342.35 464.80
    SRM ENERGY LTD. 23.44 0.00 -0.45 21.24 10.09 30.07
    NLC INDIA LIMITED 295.55 11.64 1.90 40982.04 223.00 387.70
    Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
    CESC LTD. 165.15 25.68 2.25 21891.80 138.05 204.40
    TATA POWER CO LTD 377.10 107.74 6.54 120496.25 342.35 464.80
    SRM ENERGY LTD. 23.44 47.84 -5.80 21.24 10.09 30.07
    NLC INDIA LIMITED 295.55 16.23 2.12 40982.04 223.00 387.70

    RELIANCE POWER LTD. shareholding pattern

    Holding
    57.76%
    24.98%
    14.12%
    3.12%
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    News

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    RELIANCE POWER LTD. Technicals Summary

    • EMA & SMA
    • Resistance and Support
    • Delivery and Volume
    • Beta
    • Price Change Analysis
    24.44 -0.61 redarrow
    red-green-graph indicator
    16 Bearish
    0 Bullish
    • 5 Days 24.60
    • 26 Days 25.50
    • 10 Days 24.80
    • 50 Days 26.00
    • 12 Days 24.90
    • 100 Days 27.50
    • 20 Days 25.30
    • 200 Days 31.10
    24.75 PIVOT
    First Support 24.09 First Resistance 25.24 Second Support 23.60 Second Resistance 25.90 Third Support 22.94 Third Resistance 26.39
    RSI 41.21 ADX 8.81 MACD -0.56 Williams % R -95.38 Commodity Channel Index (CCI) -82.84
    Date 2026-07-17 Week 6500623.00 Same Day 4738936.00 Month 13015375.00
    1 Year 1.76 3 Year 1.41
    Over 1 Month
    -8.97% down
    Over 1 Year
    -62.46% down
    Over 3 Months
    -14.78% down
    Over 3 Years
    17.02% down
    Over 6 Months
    -21.44% down
    Over 5 Years
    12.85% down

    RELIANCE POWER LTD. Corporate Actions

    Dividend date Dividend amount Dividend type Record date Instrument type
    19 Nov 2015 1.0 Interim 21 Nov 2015 Equity shares
    Ex-Date Ex-Bonus Ratio
    03 Jun 2008 30 May 2008 3:5
    Dividend date Dividend amount Dividend type Record date Instrument type
    19 Nov 2015 1.0 Interim 21 Nov 2015 Equity shares
    Ex-Date Ex-Bonus Ratio
    03 Jun 2008 30 May 2008 3:5

    Top Gainers

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    Reliance Power Ltd. share results highlight 

    Reliance Power Ltd reported sales of ₹1,886 Crore in Q1 FY26 compared to ₹1,992 Crore in Q1 FY25. The net profit was ₹45 Crore in Q1 FY26 versus the net loss of ₹98 Crore in Q1 FY25. The EPS was ₹0.11 in Q1 FY26 versus negative ₹0.24 in Q1 FY25. The profit before tax amounted to ₹72 Crore in Q1 FY26 versus the loss before tax of ₹73 Crore in Q1 FY25.  

    Date Source: screener.in, and corporate filings on NSE/BSE  

    Reliance Power Ltd. annual reports 

    In FY 2024-25, Reliance Power Ltd had sales of ₹7,583 Crore versus ₹7,893 Crore in FY 2023-24. It had a net profit of ₹2,948 Crore in FY 2024-25 versus a net loss of ₹2,068 Crore in FY 2023-24. The EPS amounted to ₹7.34 in FY 2024-25 versus negative ₹5.15 in FY 2023-24. The profit before tax was ₹3,048 Crore in FY 2024-25 versus loss before tax of ₹1,854 Crore in FY 2023-24.  

    Date Source: screener.in, and corporate filings on NSE/BSE 

    Reliance Power Ltd. share dividend 

    On November 7, 2016, Reliance Power Ltd declared an interim dividend of ₹1 per share, and the record date was set for 21 November 2015. This is the last dividend declared by the Company. There have not been any dividends announced in subsequent years. 

    Date Source: screener.in, and corporate filings on NSE/BSE

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    Board Of Directors

    V K Sharma Independent Director
    Ashok Ramaswamy Independent Director
    Ramandeep Kaur Company Sec. & Compli. Officer
    Harmanjit Singh Nagi Non Executive Director
    Ashok Kumar Pal Executive Director & Chief Financial Officer
    Sachin Mohapatra Non Executive Director
    Neeraj Parakh Executive Director & Chief Executive Officer
    Avinash Gupta Additional Director

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    Frequently Asked Questions

    What is the Current Share Price of Reliance Power Ltd?

    Answer Field

    Reliance Power Ltd share price is for NSE ₹ 24.44 & for BSE ₹ 24.44 as on Jul 17 2026 03:30 PM.

    What is the Market Cap of Reliance Power Ltd Share?

    Answer Field

    The market cap of Reliance Power Ltd for NSE ₹ 0.00 & for BSE ₹ 0.00 as on Jul 17 2026 03:30 PM.

    What is the 52 Week High and Low of Reliance Power Ltd?

    Answer Field

    The 52 Week High and Low of Reliance Power Ltd for NSE is ₹ 66.60 and ₹ 20.17 and for BSE is ₹ 66.64 and ₹ 20.23.

    What is 1 year return for Reliance Power Ltd?

    Answer Field

    The 1 year returns on the stock has been -62.46%.

    What is the P/E Ratio of Reliance Power Ltd Share?

    Answer Field

    As on Jul 17 2026 03:30 PM the price-to-earnings (PE) ratio for Reliance Power Ltd share is 814.67.

    What is the PB ratio of Reliance Power Ltd Share?

    Answer Field

    As on Jul 17 2026 03:30 PM, the price-to-book (PB) ratio for Reliance Power Ltd share is 23.59.

    How to Buy Reliance Power Ltd Share?

    Answer Field

    You can trade in Reliance Power Ltd shares with Bajaj Broking by opening a demat account.

    How to Buy Reliance Power Ltd Share on Bajaj Broking App?

    Answer Field

    To buy Reliance Power Ltd shares on the Bajaj Broking app, follow these steps:

    • Login to the Bajaj Broking App

    • Click on the Search Icon

    • Search “Reliance Power Ltd”

    • Click on the BUY icon

    • Place a buy order specifying the desired quantity of shares.

    • Click BUY again to complete the purchase

    Who is the CEO of Reliance Power?

    Answer Field

    As of November 2024, the CEO of Reliance Power is Mr. K. Raja Gopal. He oversees the company's strategic direction and operations, influencing the Reliance Power share price through effective leadership and decision-making.

    When was Reliance Power established?

    Answer Field

    Reliance Power was established in 1995. Over the years, it has grown into a significant player in India's power generation sector. The Reliance Power share price reflects the company's longstanding presence and contributions to the nation's energy infrastructure.

    What factors are influencing the Reliance Power share price?

    Answer Field

    The Reliance Power share price is influenced by several factors, including financial performance, project execution, regulatory policies, and market sentiment. Operational efficiency, debt levels, and strategic initiatives also play crucial roles in determining the share price movements.

    Is Reliance Power debt free?

    Answer Field

    No, Reliance Power is not debt-free. The company has been actively working on reducing its debt levels through asset monetisation and operational efficiencies. The Reliance Power share price reflects investor confidence in the company's efforts to manage and reduce its debt burden.

    What is the CAGR of Reliance Power share?

    Answer Field

    The compound annual growth rate (CAGR) of the Reliance Power share price varies depending on the investment period considered. Investors can calculate this rate using historical share price data over their desired timeframe. A positive CAGR indicates consistent growth and value appreciation of the Reliance Power shares.

    How has the Reliance Power share price performed over the past year?

    Answer Field

    Over the past year, the Reliance Power share price has experienced fluctuations influenced by quarterly financial results, market conditions, and sectoral developments. Despite some volatility, the stock has shown resilience, reflecting the company's strategic initiatives and market position. Investors monitor these trends to assess the stock's performance and potential future movements.

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    Personal Loan, Fixed Deposit, EMI Card are provided by Bajaj Finance Limited. Bajaj Financial Securities Limited is only a distributor. These are not exchange traded products and all disputes with respect to the distribution activity, would not have access to exchange investor redressal forum or Arbitration mechanism.

    No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.

    Please Note:

    1. Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020

    2. Update your mobile number & email ID with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge.

    3. Pay 20% upfront margin of the transaction value to trade in cash market segment.

    4. Investors may please refer to the Exchange's Frequently Asked Questions (FAQs) issued vide circular reference NSE/INSP/45191 dated July 31, 2020 and NSE/INSP/45534 and BSE vide notice no. 20200731-7 dated July 31, 2020 and 20200831-45 dated August 31, 2020 and other guidelines issued from time to time in this regard.

    5. Check your Securities /MF/ Bonds in the consolidated account statement issued by NSDL/CDSL every month.

    Client Registration Documents (Rights & Obligations, Risk Disclosure Document, Do's & Don'ts) in Vernacular Language: BSE | NSE

    If the client wishes to revoke /cancel the EDIS mandate placed by them, they can write on email us or call on the toll free number.

    Advisory for Investors : NSE | BSE

    We also do pro-account trading in Equity & Derivatives Segment.

    Filling complaints on SCORES/SMARTODR Portal - Easy & Quick

    A.  Register on SCORES/SMARTODR portal B. Mandatory details for filling complaints on SCORES/SMARTODR:(Name, PAN, Address, Mobile Number, Email ID) C. Benefits: (i) Effective Communication (ii) Speedy redressal of the grievances / Dispute.

    SEBI Registration No.: INZ000218931 | BSE Cash/CDS/F&O (Member ID: 6706) | NSE Cash/F&O/CDS (Member ID: 90177) | MCX Member ID: 57680 | DP registration No : IN-DP-418-2019 | CDSL DP No.: 12088600 | NSDL DP No. IN304300 | AMFI Registration No.: ARN – 163403 Research Analyst SEBI Registration No. INH000010043

    Compliance officer:

    Mr. Saksham Kaushik 
    TEL: 020-48574486
    Email for any investor grievances or write to us for DP related matters.

    DISCLAIMER

    STANDARD DISCLAIMER

    Investments in the securities market are subject to market risk, read all related documents carefully before investing.

    Reg Office: Bajaj Auto Limited Complex, Mumbai –Pune Road Akurdi Pune 411035. Corporate Office: Bajaj Financial Securities Limited, 1st Floor, Mantri IT Park, Tower B, Unit No 9 & 10, Viman Nagar, Pune, Maharashtra 411014. SEBI Registration No.: INZ000218931 | BSE Cash/F&O/CDS (Member ID:6706) | NSE Cash/F&O/CDS (Member ID: 90177) | MCX Member ID: 57680 | DP registration No: IN-DP-418-2019 | CDSL DP No.: 12088600 | NSDL DP No. IN304300 | AMFI Registration No.: ARN –163403. 

    Website: Bajaj Broking

    RESEARCH DISCLAIMER

    Broking services offered by Bajaj Financial Securities Limited | Registered Office: Bajaj Auto Limited Complex , Mumbai –Pune Road Akurdi Pune 411035 | Corporate Office: Bajaj Financial Securities Limited, 1st Floor, Mantri IT Park, Tower B, Unit No 9 & 10, Viman Nagar, Pune, Maharashtra 411014 | CIN: U67120PN2010PLC136026 | Research Analyst SEB I Registration No: INH000010043.

    Details of Compliance Officer: 

    Mr. Saksham Kaushik  (For Broking/DP/Research)
    Email | Contact No.: 020-4857 4486 

    Investment in the securities involves risks, investor should consult his own advisors/consultant to determine the merits and risks of investment.

    DISCLOSURES

    Disclosures under the provisions of SEBI (Research Analysts) Regulations 2014 (Regulations) 

    Bajaj Financial Securities Limited ("Bajaj Broking" or "Research Entity") is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities. There were no instances of non-compliance by Bajaj Financial Securities Limited on any matter related to the capital markets, resulting in significant and material disciplinary action during the last three years. This research report has been prepared and distributed byBajaj Financial Securities Limited in the capacity of a Research Analyst as per Regulation 22(1) of SEBI (Research Analysts) Regulations 2014 having SEBI Registration No. INH000010043. 

    DISCLAIMER

    This e-mail/ short message service (SMS) may contain confidential, proprietary or legally privileged information. It should not be used by anyone who is not the original intended recipient. If you have erroneously received this message, please delete it immediately and notify the sender. The recipient acknowledges thatBajaj Financial Securities Limited or its holding and/or associated companies, as the case may be, are unable to exercise control or ensure or guarantee the integrity of/over the contents of the information contained in e-mail /SMS transmissions and further acknowledges that any views expressed in this message are those of the individual sender and no binding nature of the message shall be implied or assumed unless the sender does so expressly with due authority of Bajaj Financial Securities Limited. This message is not intended as an offer or publication or solicitation for distribution for subscription of or purchase or sale of any securities or financial instrument(s) to anyone in whose jurisdiction such subscription etc. requires prior local regulatory clearance or is contrary to the local laws of the land in any manner or as an official confirmation of any transaction. Before opening any attachments, please check them for viruses and defects. 

    This service / information is strictly confidential and is being furnished to you solely for your information. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose unless otherwise expressly authorised. This service / information is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subjectBajaj Financial Securities Limited and affiliates/ group/holding companies to any registration or licensing requirements within such jurisdiction. The distribution of this document in certain jurisdictions may be restricted by law, and persons in whose possession this document comes, should inform themselves about and observe any such restrictions.  

    The data would be provided to the clients on an "as is" and "where-is" basis, without any warranty. Bajaj Financial Securities Limited or its subsidiaries and associated companies shall not be liable for any delay or any other interruption which may occur in providing the data due to any reason including network (Internet) reasons or snags in the system, breakdown of the system or any other equipment, server breakdown, maintenance shutdown, breakdown of communication services or inability of the Bajaj Financial Securities Limited or its subsidiaries and associated companies to provide the data. In no event shall the Bajaj Financial Securities Limited or its holding and associated companies be liable for any damages, including without limitation direct or indirect, special, incidental, or consequential damages, losses or expenses arising in connection with the data provided by the Bajaj Financial Securities Limited or its holding and associated companies.

    ADDITIONAL DISCLAIMER FOR U.S. PERSONS

    Bajaj Financial Securities Limited is not a registered broker-dealer under the U.S. Securities Exchange Act of 1934, as amended (the"1934 act") and under applicable state laws in the United States. In addition, Bajaj Financial Securities Limited is not a registered investment adviser under the U.S. Investment Advisers Act of 1940, as amended (the "Advisers Act" and together with the 1934 Act, the "Acts), and under applicable state laws in the United States. Accordingly, in the absence of specific exemption under the Acts, any brokerage and investment services provided by Bajaj Financial Securities Limited, including the products and services described herein are not available to or intended for U.S. persons. This email message does not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services and/or shall not be considered as an advertisement tool. "U.S. Persons" are generally defined as a natural person, residing in the United States or any entity organized or incorporated under the laws of the United States. US Citizens living abroad may also be deemed "US Persons" under certain rules.  

    ADDITIONAL DISCLAIMER FOR CANADIAN PERSONS

    Bajaj Financial Securities Limited is not a registered adviser or dealer under applicable Canadian securities laws nor has it obtained an exemption from the adviser and/or dealer registration requirements under such law. Accordingly, any brokerage and investment services provided by Bajaj Financial Securities Limited, including the products and services described herein are not available to or intended for Canadian persons.  

    This mailer and its respective contents do not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services.  

    DISCLAIMER FOR REPORT

    DISCLOSURES UNDER THE PROVISIONS OF SEBI (RESEARCH ANALYSTS) REGULATIONS 2014 (REGULATIONS)

    Bajaj Financial Securities Limited ("Bajaj Broking" or "Research Entity") is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities.  

    This Report has been prepared by Bajaj Financial Securities Limited in the capacity of a Research Analyst having SEBI Registration No. INH000010043 and distributed as per SEBI (Research Analysts) Regulations 2014. This report does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. The information contained herein is from publicly available data or other sources believed to be reliable. This report is provided for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this report should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult his own advisors to determine the merits and risks of such investment. The investment discussed or views expressed may not be suitable for all investors.  

    This information is strictly confidential and is being furnished to you solely for your information. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject Bajaj Financial Securities Limited and associates / group companies to any registration or licensing requirements within such jurisdiction. The distribution of this report in certain jurisdictions may be restricted by law, and persons in whose possession this report comes, should observe, any such restrictions. The information given in this report is as of the date of this report and there can be no assurance that future results or events will be consistent with this information. This information is subject to change without any prior notice. Bajaj Financial Securities Limited reserves the right to make modifications and alterations to this statement as may be required from time to time. Bajaj Financial Securities Limited or any of its associates / group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Bajaj Financial Securities Limited is committed to providing independent and transparent recommendation to its clients. Neither Bajaj Financial Securities Limited nor any of its associates, group companies, directors, employees, agents or representatives shall be liable for any damages whether direct, indirect, special or consequential including loss of revenue or lost profits that may arise from or in connection with the use of the information. Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein. Past performance is not necessarily a guide to future performance .The disclosures of interest statements incorporated in this report are provided solely to enhance the transparency and should not be treated as endorsement of the views expressed in the report. The information provided in these reports remains, unless otherwise stated, the copyright of Bajaj Financial Securities Limited. All layout, design, original artwork, concepts and other Intellectual Properties, remains the property and copyright of Bajaj Financial Securities Limited and may not be used in any form or for any purpose whatsoever by any party without the express written permission of the copyright holders.  

    We offer our research services to clients as well as our prospects. Though this report is disseminated to all the customers simultaneously, not all customers may receive this report at the same time. We will not treat recipients as customers by virtue of their receiving this report.  

    Bajaj Financial Securities Limited and its associates, officer, directors, and employees, research analyst (including relatives) worldwide may: (a) from time to time, have long or short positions in, and buy or sell the securities thereof, of company(ies), mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the subject company/company(ies) discussed herein or act as advisor or lender/borrower to such company(ies) or have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance. Bajaj Financial Securities Limited may have proprietary long/short position in the above-mentioned scrip(s) and therefore should be considered as interested. The views provided herein are general in nature and do not consider risk appetite or investment objective of any particular investor; readers are requested to take independent professional advice before investing. This should not be construed as invitation or solicitation to do business with Bajaj Financial Securities Limited.  

    Bajaj Financial Securities Limited or its associates may have received compensation from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have managed or co-managed public offering of securities for the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received compensation for investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report. Research analyst or his/her relative or Bajaj Financial Securities Limited’s associates may have financial interest in the subject company. Bajaj Financial Securities Limited, its associates, research analyst and his/her relative may have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance.  

    Research analyst has served as an officer, director or employee of subject Company: No  

    Bajaj Financial Securities Limited has financial interest in the subject companies: No  

    Bajaj Financial Securities Limited’s Associates may have actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report.  

    Research analyst or his/her relative has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No  

    Bajaj Financial Securities Limited has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No  

    Subject company may have been client during twelve months preceding the date of distribution of the research report.  

    There were no instances of non-compliance by Bajaj Financial Securities Limited on any matter related to the capital markets, resulting in significant and material disciplinary action during the last three years. A graph of daily closing prices of the securities is also available at NSE

    ANALYST CERTIFICATION

    The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal views about the subject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectly related to specific recommendations or views expressed in this report.  

    RISK DISCLOSURE ON DERIVATIVES

    • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
    • On an average, loss makers registered net trading loss close to ₹ 50,000.
    • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
    • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.

    SEBI study dated January 25, 2023 on “Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment”, wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22.

    BROKERAGE DISCLAIMER

    All leveraged intraday positions will be squared off on the same day. There is no restriction on the withdrawal of the unutilised margin amount. Brokerage will not exceed the SEBI prescribed limit. Visit : Pricing

    MTF 

    As subject to the provisions of SEBI Circular CIR/MRD/DP/54/2017 dated June 13, 2017, and the terms and conditions mentioned in the lights and obligations statement issued by the TM (if applicable).  

    US INVESTING

    International investment is not supervised by any regulatory body in India. Thus, any claim or dispute relating to such investment or enforcement of any agreement/contract /claim will not be under laws and regulations of the recognized stock exchanges and investor protection under Indian Securities Law. The account opening process will be carried out on Vested platform and Bajaj Financial Securities Limited will not have any role in it.  

    IPO 

    This should not be construed as soliciting investment. Investors’ discretion is required. Kindly consult your financial expert before investing. No need to issue cheques by investors while subscribing to IPO. Investments in securities markets are subject to market risks, read all the related documents carefully before investing.  

    SCREENERS 

    Screeners is not Exchange-approved products and any disputes related to the same will not be dealt on the Exchange platform. 

    SECURITIES 

    Securities quoted are exemplary and not recommendatory. 

    IPV 

    Account would be open after all procedure relating to IPV and client due diligence is completed. 

    IMAGES 

    The images used are only for representation purpose. Proper due diligence has been done for the images and the image is not of any artist. The same is captured from royalty free sites.

    THIRD PARTY PRODUCT DISCLAIMER

    Bajaj Financial Securities Limited is a distributor for Non-Broking Products/Services such as Mutual Funds, Mutual Funds SIP, IPO, Bonds, Insurance, PMS, Global Investing, any other third-party products/services. These are not Exchange Traded Products, and we are only acting as distributors. All disputes with respect to the distribution activity, would not have access to SCORES/ODR, Exchange investor redressal forum or Arbitration mechanism. Please refer to the detailed disclaimer for Third-Party Products.

    DISCLOSURE TO CLIENTS REGARDING PAYOUT OF FUNDS

    As per SEBI circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/84 dated June 08, 2023, Stockbrokers are required to upstream the entire client funds lying with them to the Clearing Corporation. Based on client’s request the funds’ release request must be placed with the Clearing Corporation. Based on the internal process and cut-off timelines of the Clearing Corporation the funds will be released to the Stock Broker. In view of this new process, as specified by the regulatory and the cut-off time of Clearing Corporation/Banks processing the funds, Bajaj Financial Securities Limited cannot commit the exact time for releasing funds payout to its client. Clients are requested to note that, Bajaj Financial Securities Limited will not be responsible for any inconvenience caused to clients due to delay in release of funds payout, including fines, delayed charges, defaults, etc.