Shares of Reliance Power Ltd (RPower) are likely to be in focus in Thursday's trade after the Export Import Bank of the United States (US Exim) filed an insolvency application against the company, alleging a "debt default".

"Pursuant to Regulation 30 of the Listing Regulations read with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, we wish to inform you that Export Import Bank of the United States (US Exim) has filed an application under Section 7 of IBC, 2016 against the Company alleging default of debt (net debt $ 165.41 million) by Samalkot Power Ltd (SPL), a subsidiary, guaranteed by the Company," the company stated.

"As already informed vide our disclosure dated July 01, 2025, this matter is sub judice, as SPL has already filed an application on June 29, 2025, before London Court of International Arbitration against US Exim and Citibank N.A. (Facility Agent) on the ground that the debt is not due and the same is pending for adjudication. The Company has been advised that the present application is not legally tenable and shall be appropriately contested," it added.

"The Company will take all appropriate steps, as legally advised, to protect its interest in the aforesaid matter," RPower stated.

From a technical perspective, the stock is trading below its 5-day, 10-day, 150-day and 200-day simple moving averages (SMAs), though it remains above its 20-day, 30-day, 50-day and 100-day SMAs. The 14-day relative strength index (RSI) stands at 61.02. A level below 30 is defined as oversold while a value above 70 is considered overbought.

Data from Trendlyne shows the stock has a one-year beta of 1.93, pointing to relatively high volatility.

On the price front, RPower shares settled 1.86 per cent lower on Wednesday. Despite the decline, the stock has surged 29.79 per cent in the past month, although it is still down 37.48 per cent over the last six months.