New Delhi: Thursday was a happy day in the stock market for Anil Ambani. On Thursday, shares of their two major companies Reliance Power and Reliance Infrastructure rose. On one hand, there was a decline in Sensex, while the shares of these two companies of Anil Ambani hit the upper circuit of 5 percent.
A day earlier i.e. on Wednesday also the shares of Reliance Infra had hit upper circuit. At the same time, the shares of Reliance Power had increased by more than 3 percent. Ambani’s Reliance Power has become debt free. At the same time, Reliance Infra has also reduced its debt by 85 percent.
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Why was upper circuit imposed?
The reason for upper circuit in the shares of both the companies were two decisions. If we talk about Reliance Power, the company on Thursday got approval to raise about Rs 1525 crore by issuing preferential shares. This approval has been received from the shareholders.
A day earlier, on Wednesday, it was announced by Reliance Infra that the company will set up an integrated project to manufacture explosives, ammunition and small arms. This project will be set up in Ratnagiri, Maharashtra. The company had said that Rs 10 thousand crore will be invested in this project.
How much did Reliance Power share cost?
Reliance Power shares rose 5 percent to Rs 42.36 on Thursday. The company’s shares had been in decline since October 3. Earlier, the shares of the company were continuously experiencing upper circuit for the last several days. Now again the Upper Circuit has brought happiness on the faces of investors.
What is the status of Reliance Infra shares?
Reliance Infra shares also hit upper circuit of 5 percent on Thursday. With this rise the share price has become Rs 280.60. The latest decline in the shares of this company started from October 1. Now due to its revival, the confidence of investors has increased.