diff --git a/actions/helm-charts-release/README.md b/actions/charts-values-update-action/README.md
similarity index 91%
rename from actions/helm-charts-release/README.md
rename to actions/charts-values-update-action/README.md
index 2263fc5e..7182cc31 100644
--- a/actions/helm-charts-release/README.md
+++ b/actions/charts-values-update-action/README.md
@@ -32,9 +32,9 @@ Can be `replace` or `parse`. Defaults to `parse`.
 If set to `replace` the action will just replace the versions of docker images with `release-version` value.
 If set to `parse` the action read provided `config-file` and substitute any environment variables provided in the version part.
 For example if you have some 3-rd party image in `values.yaml` file and want to manage it's version, you can add repository level variable and use it in the config file: `some-thirg-party-image:${THIRD_PARTY_VERSION}`.
-Also if you want the action to find the latest version of some image (supplimentary service for instance), you can set it to something like `#4.*.*` or `#latest`.
-In that case the action will find the latest tag of an image which satisfy the regular expression. The regular expression of a tag must start with `#` symbol and follow the `jq` syntax.
-**Special word `#latest` will result the latest SemVer tag of the image, not the one which marked with `latest` tag.**
+Also if you want the action to find the latest version of some image (supplimentary service for instance), you can set it to something like `#4\.\d+\.\d+` or `#latest`.
+In that case the action will find the latest tag of an image which satisfy the regular expression. The regular expression of a tag must start with `#` symbol and follow the Python `re` syntax.
+**Special word `#latest` will result the latest SemVer tag of the image ('2.1.0','v4.3.2', etc.), not the one which marked with `latest` tag.**
 
 ### `working-directory`
 
@@ -82,7 +82,7 @@ jobs:
     runs-on: ubuntu-latest
     steps:
       - name: Release Helm Charts
-        uses: netcracker/qubership-workflow-hub/actions/helm-charts-release@main
+        uses: netcracker/qubership-workflow-hub/actions/charts-values-update-action@main
         with:
           release-version: '1.0.0'
           chart-version: '1.0.0'
@@ -113,4 +113,4 @@ jobs:
   - `version`: Template for the image version (e.g., `my-image:${release}`).
   - `image`: List of image keys to update in `values.yaml`.
 
-> Example: [helm-charts-release-config.yaml](./helm-charts-release-config.yaml).
+> Example: [charts-values-update-config.yaml](./charts-values-update-config.yaml).
diff --git a/actions/helm-charts-release/action.yaml b/actions/charts-values-update-action/action.yaml
similarity index 100%
rename from actions/helm-charts-release/action.yaml
rename to actions/charts-values-update-action/action.yaml
diff --git a/actions/helm-charts-release/helm-charts-release-config.yaml b/actions/charts-values-update-action/charts-values-update-config.yaml
similarity index 86%
rename from actions/helm-charts-release/helm-charts-release-config.yaml
rename to actions/charts-values-update-action/charts-values-update-config.yaml
index 1fd091f5..6146456f 100644
--- a/actions/helm-charts-release/helm-charts-release-config.yaml
+++ b/actions/charts-values-update-action/charts-values-update-config.yaml
@@ -12,5 +12,5 @@ charts:
     image:
       - ghcr.io/netcracker/module1:${release} # This will replace the image version with the release version
       - ghcr.io/netcracker/module1-service1:${release}-${THIRD_PARTY_VERSION} # This will replace the image version with the release version and append the THIRD_PARTY_VERSION variable
-      - ghcr.io/netcracker/module1-service2:#5.*.* # This will select the latest tag matching the jq regular expression
+      - ghcr.io/netcracker/module1-service2:#5\.\d+\.\d+ # This will select the latest tag matching the jq regular expression
       - ghcr.io/netcracker/module1-service2:#latest # This will select the latest SemVer tag
diff --git a/actions/helm-charts-release/image-versions-replace.py b/actions/charts-values-update-action/image-versions-replace.py
similarity index 66%
rename from actions/helm-charts-release/image-versions-replace.py
rename to actions/charts-values-update-action/image-versions-replace.py
index 64ea7827..934e35af 100644
--- a/actions/helm-charts-release/image-versions-replace.py
+++ b/actions/charts-values-update-action/image-versions-replace.py
@@ -3,8 +3,10 @@
 import argparse
 import json
 import os
+from packaging import version
 import re
 import subprocess
+import sys
 import yaml
 
 def replace_env_variables(input_string):
@@ -18,15 +20,64 @@ def replacer(match):
 
     return pattern.sub(replacer, input_string)
 
+def get_latest_stable_version(versions):
+    stable_versions = []
+
+    for v in versions:
+        try:
+            ver = version.parse(v)
+            # Check that version is stable
+            if not ver.is_prerelease:
+                stable_versions.append((v, ver))
+        except version.InvalidVersion:
+            continue
+
+    if not stable_versions:
+        return None
+
+    latest = sorted(stable_versions, key=lambda x: x[1])[-1][0]
+    return latest
+
+def get_latest_version_by_regex(versions, pattern_str):
+    try:
+        print(f"Using regex pattern: {pattern_str}")
+        pattern = r'' + pattern_str
+        compiled_pattern = re.compile(pattern)
+    except re.error as e:
+        print(f"Invalid regular expression '{pattern}': {str(e)}")
+        sys.exit(1)
+        #raise ValueError(f"Incorrect regular expression: {str(e)}") from None
+
+    matched_versions = []
+
+    for v in versions:
+        try:
+            if compiled_pattern.fullmatch(v):
+                ver = version.parse(v)
+                if not ver.is_prerelease:
+                    matched_versions.append((v, ver))
+        except version.InvalidVersion:
+            continue
+
+    if not matched_versions:
+        return None
+
+    return sorted(matched_versions, key=lambda x: x[1])[-1][0]
+
 def replace_tag_regexp(image_str, tag_re):
     # Try to find the requested tag for given image_str
     if tag_re.startswith("#"):
         try:
             os.system(f"skopeo login -u $GITHUB_ACTOR -p $GITHUB_TOKEN ghcr.io")
+            tags = subprocess.run(f"skopeo list-tags docker://{image_str} | jq -r '.Tags[]'", shell=True, text=True, check=True, capture_output=True).stdout.split()
             if tag_re[1:] == 'latest':
-                result_tag = subprocess.run(f"skopeo list-tags docker://{image_str} | jq -r '.Tags[]' | grep -e \"^[0-9]*\.[0-9]*\.[0-9]*\" | sort -V | tail -n 1", shell=True, text=True, check=True, capture_output=True).stdout.rstrip()
+                result_tag = get_latest_stable_version(tags)
             else:
-                result_tag = subprocess.run(f"skopeo list-tags docker://{image_str} | jq -r '.Tags[] | select(test(\"^{tag_re[1:]}\"))' | sort -V | tail -n 1", shell=True, text=True, check=True, capture_output=True).stdout.rstrip()
+                result_tag = get_latest_version_by_regex(tags, tag_re[1:])
+            if not result_tag:
+                print(f"No matching tag found for {image_str} with pattern {tag_re}")
+                #raise ValueError(f"No matching tag found for {image_str} with pattern {tag_re}")
+                sys.exit(1)
             return(result_tag)
         except Exception as e:
           print(f"Error: {e}")