Reliance Power shares are on a rocketing rise. Shares of Anil Ambani’s company rose 5 percent to Rs 32.98 on Wednesday. A big update has come regarding Reliance Power. Reliance Power has completely settled its financial obligations as a guarantor for power generation company Vidarbha Industries Power Limited (VIPL). This settlement was announced on September 17. Vidarbha Industries Power had an outstanding loan of Rs 3872.04 crore. Reliance Power shares have jumped more than 2800 percent in the last 4 and a half years.
No more loans from banks and financial institutions
Anil Ambani-owned Reliance Power has said that it has no debt to banks and financial institutions. The company has stated that its net worth on a consolidated basis as of June 30, 2024 is Rs 11,155 crore. Reliance Power has stated in an exchange filing that Vidarbha Industries Power Limited is no longer its subsidiary. The company has stated that it has settled all disputes with CFM Asset Reconstruction Private Limited.
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Made more than 29 lakh rupees from 1 lakh rupees
Reliance Power shares have jumped 2818 percent in the last four and a half years. The shares of Anil Ambani’s company were at Rs 1.13 on March 27, 2020. The company’s shares have reached Rs 32.98 on September 18, 2024. If a person had invested Rs 1 lakh in Reliance Power shares on March 27, 2020 and maintained his investment, then the value of shares purchased with Rs 1 lakh would have been Rs 29.18 lakh at present. The 52-week high level of Reliance Power shares is Rs 38.07. At the same time, the 52-week low level of the company’s shares is Rs 15.53.
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Shares up 73% in one year
Reliance Power shares have jumped 73 percent in the last one year. The company’s shares were at Rs 19.07 on 18 September 2023. Reliance Power shares have reached Rs 32.98 on 18 September 2024. The company’s shares have seen a 42 percent rise in the last 6 months. The company’s shares have increased from Rs 23.23 to close to Rs 33 during this period.
