Reliance Power share: Anil Ambani’s company Reliance Power Limited’s shares were in constant focus in the recent days. The company’s shares saw a bumper rise. Reliance Power Limited’s share hit an upper circuit of 5% last Friday and the share reached Rs 36.34. In the last five days, this share has climbed up to 20%. During this time, its price reached from Rs 30 to the current price. There are many major reasons behind this rise in shares. In fact, the company has become debt free.
there is an important meeting tomorrow
Reliance Power Limited has informed BSE that the meeting of the Board Members of the Company has been scheduled on 23/09/2024. In this, among other things, the raising of long-term resources from domestic and global markets will be considered and approved. Angel One Senior Vice President-Research Amar Singh has said in a conversation with Business Today that there are currently a lot of positive movements in the company’s stock and the market is also moving positive, so the stock is on the way to recovery and it can reach 40 to 50. However, he has also described it as risky. Let us tell you that LIC also has a big stake in the company. LIC has a 2.56 percent stake in this company, which is equivalent to 10,27,58,930 shares.
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What did the company say?
Reliance Power Limited recently said that it has fulfilled its liabilities of Rs 3,872 crore related to the guarantor for its subsidiary unit Vidarbha Industries Power. Reliance Power informed the stock market about this on Wednesday. On the other hand, the company is also getting orders continuously. On Monday, Reliance Power received a 500 MW battery storage order through auction. This auction was organized by Solar Energy Corporation of India (SECI). This auction was held on September 11, 2024. This is part of SECI’s initiative to increase energy storage capacity in the country.