Good News! Reliance Power share price rises 50% in eight days!! Masterstroke by Anil Ambani.
Reliance Power share: Anil Ambani-owned Reliance Power Shares have been on an uptrend for the last eight sessions. After the announcement of debt settlement as a guarantor on behalf of Vidarbha Industries Power Limited (VIPL), Reliance Power shares came out of the base building mode and started hitting the upper circuit. The Anil Ambani-owned Anil Dhirubhai Ambani Group (ADAG) stock turned out to be a circuit-to-circuit stock when the company board declared a board meeting date to consider and approve fundraising for the long term. Reliance Power’s share price has remained one of the circuit-to-circuit stocks of the Indian Stock Market since 18th September 2024, logging around a 50% rise in the last eight straight sessions
Reliance News: A slew of good news has been coming in for the Reliance Power-backed by Anil Ambani for the last two weeks. Reliance Power became a multi-bagger faster than Maharatna PSUs NTPC and Power Grid Corporation after the company gained 56 percent on the NSE (National Stock Exchange). According to the reports, the reason behind investors’ newfound faith in Reliance Power is because of back-to-back fundraising proposals and reducing its debt drastically.
The Reliance Power has touched back-to-back upper circuits. From September 18 to September 27, the private stock touched 8 upper circuits, which in total had 8 sessions. In these 8 trading days, Reliance Power stock grew by nearly 47 percent on the NSE.
Reliance Power has been witnessing a massive growth on BSE and NSE since September 12. Since then to date, Reliance Power stock surged by a whopping 56.8 percent.
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