Reliance Power Share Price Soars by 130% in Past Year: Anil Ambani’s Company Making Waves
📈 Anil Ambani’s Reliance Power has been in the spotlight for over a year now, with the share price surging by 130% during this period. Currently, the company’s shares were trading at ₹26.20, up from ₹11 a year ago. Brokers predict that the share price could rise further in the coming days, possibly reaching ₹34.
📊 Over the past five years, Reliance Power’s share price has increased by a whopping 250%, reaching its current value from just ₹7. The company’s IPO was launched in January 2008 in the price range of ₹405 to ₹450 per share. It was listed on the BSE at ₹547.80 and on the NSE at ₹530, with a bonus issue of 3:5 shares post-listing.
📉 The 52-week high for Reliance Power shares is ₹34.35, while the low is ₹11.06. As of Wednesday, May 22, 2024, the share price was trading at ₹27.0, reflecting a 3.30% increase.
💰 In recent months, two subsidiary companies of Reliance Power have repaid a loan of ₹1,023 crore to Anthem Investments branch of Reliance Commercial Finance. The company stated, “Reliance Power Limited, Kalari Power Private Limited, and Reliance CleanGen Limited have reached an agreement with Reliance Commercial Finance Limited for loan repayment.”
🔍 The loan agreement with Reliance Commercial Finance was announced shortly after the company sold its 45 MW wind energy project JWR Renewable Energy to O2C Investment and Infrastructure Limited for ₹132 crore. In December 2023, Kalari Power sold its proposed 1,200 MW hydropower project in Arunachal Pradesh to THDC India Limited for ₹128 crore.
📆 According to a company official, the proceeds from these asset sales were used to repay debts. The future looks promising for Reliance Power as it continues to make strategic business decisions and strengthen its financial position.
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