2024-09-20 23:59:01
New Delhi: There was a tremendous rise in the stock market on Friday. Both Sensex and Nifty made all-time high records. Many stocks gave great returns to investors. These include the stock of Reliance Infrastructure, the company of Mukesh Ambani’s younger brother Anil Ambani. This stock rose by about 11 percent on Friday. This rise had reached 12 percent during the day. But later, during the market closing, it fell a bit. Still, this stock gave investors a profit of about 11 percent in a single day. With this rise, this stock has reached Rs 316. However, there are other reasons for the rise in this stock.Earning 6.5 lakh crore rupees in one day, stock market boomed, Sensex and Nifty made a new record
Why did Reliance Infra shares rise?
This stock of Anil Ambani’s company Reliance Infrastructure Limited is witnessing a rise after a decision. Actually, Reliance Infra has reduced its debt to a great extent. In such a situation, the company’s focus is on expanding its business. For this, the company is going to raise funds of more than Rs 3000 crore. Due to this good news, the company’s stock saw a rise on Friday. Reliance Infrastructure said a day earlier i.e. on Thursday that its Board of Directors has approved the preferential issue of equity shares worth Rs 3014.4 crore.
The company reduced its debt
Reliance Infra, which was once in debt, is now almost debt-free. The company recently said that its debt has come down to Rs 475 crore. The company’s net worth is currently Rs 12.54 thousand crore. In such a situation, the company is very close to becoming debt-free. Reliance Infra has already paid dues to LIC, Edelweiss Asset Reconstruction Company Ltd, ICICI and Union Bank.
There was a huge surge this week
The company’s shares have seen a tremendous rise this week. The company’s shares have jumped by about 48 percent in these 5 business days (Monday to Friday). In such a situation, it has made investors rich in just 5 days. At the same time, the company has also given tremendous returns in one year. This return was about 82 percent. If we talk about 5-year returns, then the company’s shares have given investors a whopping 763 percent return in 5 years.