Power Share: The shares of Reliance Power Share of Reliance Group led by industrialist Anil Ambani are witnessing a sharp decline these days. The company’s shares have been witnessing a continuous decline for the last several sessions. The company’s shares also hit a lower circuit of 5% last Friday and reached Rs 44.23. However, before this there was continuous upper circuit. This stock has increased by more than 50% in a month. It has increased by up to 70% in six months. The stock has climbed 85% so far this year.
Multibagger returns throughout the year
Reliance Power shares rose by 150% in a year. During this period, this share increased from Rs 17 to the current price. This share of the power company saw a rise of 2,006.19% in five years. During this period its price has increased from Rs 2 to the current price. However, in the long term the stock has fallen more than 85%. On May 23, 2008, the price of this share was Rs 247.
Also read: This share fell from ₹73 to ₹3, now there is a rush to buy, price increased by 63% in 5 days
Big decisions of the company
Let us tell you that recently Reliance Group companies – Reliance Infrastructure Limited and Reliance Power Limited are ready to raise funds of Rs 17,600 crore and implement their growth strategies with zero debt position. Both the companies have announced raising Rs 4,500 crore in the last two weeks through preferential issue of equity shares and Rs 7,100 crore through long-term equity linked FCCBs from renowned global investment firm Verde Partners. Their maturity period is 10 years and the interest rate is five percent. Earlier, the board of directors of Reliance Power on Thursday approved raising $ 500 million (about Rs 4,198 crore) by issuing bonds. At the same time, in the month of September, the company had also announced to eliminate loan free.
(with agency input)
