Anil Ambani led company share price has been surging since last seven days over here, check reason behind it.
Read More:- Mouri Tech Files DRHP For ₹1,500 Crore IPO; Check Key Details Here
After several good news for Anil Ambani, one more news can boost the company’s investors. Reliance Power’s recent revival plan can be seen as a positive change in Anil Ambani’s career. Anil Ambani’s Reliance Power has seen a major transformation, growing from a struggling company to worth Rs 16,000 crore market cap was a long journey. The company’s shares have surged in recent week, climbing from Rs 15.53 to over Rs 40.
Reliance Power’s stock has performed extraordinarily since many days, climbing for the seventh consecutive day. On September 26, 2024, its share price reached ₹44.16, a 5% increase from the previous day.
1 Lakh Became 39 Lakh: Reliance Power Share
In the past year alone, Reliance Power’s shares have surged by 132%. On September 26, 2023, the stock price was ₹18.99, which rose to ₹44.16 by September 26, 2024. Over the last six months, the stock has climbed 60%, from ₹27.58 on March 26, 2024, to ₹44.16 currently.
Over the past 4.5 years, its stock has soared by a staggering 3807%. In March 2020, the stock price was just ₹1.13, meaning if any person had invested a ₹1 lakh in 2020 would now have become ₹39.07 lakh.
This impressive growth signals a strong performance and increasing investor confidence, as Reliance Power continues its journey toward financial health and expansion.
Read More: Stock Market Updates: Sensex Flat, Nifty Holds 26,200; IT Stocks Shine
Anil Ambani Journey Of Debt-Free Status
Reliance Power has also made significant progress toward becoming debt-free. The company recently prepaid ₹850 crore to Singapore’s Varde Partners, moving closer to zero debt. Earlier in the month, Reliance Power achieved debt-free status. The loan for its coal project in Uttar Pradesh is expected to be repaid by the end of the financial year.
The transformation of Reliance Power began in December 2023, when the company started repaying its massive debts. By March 2024, it had repaid loans amounting to Rs 1,023 crore, followed by another Rs 800 crore in August. Most recently, the company settled a Rs 3,872 crore loan with banks, giving it a debt-free status.
