Reliance Infrastructure share price: Shares of Anil Ambani’s company Reliance Infrastructure Limited are in focus today on Wednesday. The company’s shares rose 8% today to an intraday high of Rs 254.40. Positive business updates are behind this rise in shares. In fact, Reliance Infrastructure has informed the exchange on Wednesday that it has settled Rs 235 crore outstanding to Edelweiss. Apart from this, the company has given another big information. Reliance Infrastructure has also reduced its standalone foreign debt. Let us tell you that in less than five years, this stock has increased from Rs 21 to the current price. Shares are seeing a steady rise.
What did the company say?
Reliance Infrastructure Limited (Reliance Infra) on Wednesday announced that the Anil Ambani-led company has reduced its standalone overseas debt by some amount, bringing down the amount from Rs 3,831 crore to Rs 475 crore. The company announced that one of its lenders Invent Assets Securitisation and Reconstruction Private Limited (Invent ARC) has renovated certain charged securities to recover its dues, thereby reducing Invent ARC’s fund-based dues to zero.
Apart from this, Reliance Infra has also paid dues to Life Insurance Corporation of India (LIC), Edelweiss ARC, ICICI Bank, Union Bank and other lenders, the exchange filing said. After this, the total assets of the company are now Rs 9,041 crore. At the same time, recently Reliance Infrastructure Limited has also entered into an agreement with Adani Electricity Mumbai Limited (AEML) and Adani Energy Solutions Limited (AESL). This agreement is towards settling disputes as per mutual consent and withdrawing arbitration claims against each other on September 17, 2024.
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Continuous rise for five days
Reliance Infrastructure share price has gained over 19% in the last 5 trading sessions and is heading towards its 52-week high. The stock has gained 42% in a year. The stock has gained 1111% in five years. During this period, the stock has risen from Rs 21 to its current price. The price of the stock was Rs 2485 on 11 January 2008. Since then, the stock has fallen by almost 90%.
