Reliance Power Share: Shares of Anil Ambani’s company Reliance Power hit upper circuit of 5% today. The company’s shares had reached an intraday high of Rs 40.45. This stock has fallen by 7% in the last five days. This stock rose by 150% in a year. Last year on October 23, the price of this share was Rs 16. Let us tell you that the company has told the stock market that the meeting of the board members of Reliance Power Limited has been fixed on 26th October. This will, inter alia, consider and approve the unaudited financial results (both standalone and consolidated) for the quarter and half year. Let us tell you that the financial year 2024-25 ended on 30 September 2024.
stock rising continuously
Shares of Reliance Power had reached 52 week high of Rs 54.25 today. Its 52 week low price is Rs 15.53. This share has fallen by about 7% in the last five trading days. The stock has risen 70% so far this year. This power share has seen a rise of up to 150% in a year. The stock has climbed 1,141.54% in five years. However, in the long term it has lost 85%. On May 23, 2008, the price of this share was Rs 275.
Read this also: One crisis after another on the energy company, there is a race to sell shares, the price came at ₹ 66. Also read: This share will go at ₹ 370, IPO came at ₹ 76, now experts are giving advice to buy.
LIC has a big bet
LIC also has a big stake on the shares of Reliance Power. LIC holds 10,26,59,304 shares of the company. This is 2.56 percent stake. 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 strategy 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 equity-linked long-term FCCBs from renowned global investment firm Verde Partners. Their maturity period is 10 years and the interest rate is five percent.
