Anil Ambani’s company, Reliance Power, saw its stock price rise by the maximum limit of 5% today. The shares reached an intraday high of Rs 40.45.
However, over the past five days, the stock has dropped by 7%. Despite this recent decline, the stock has increased by 150% over the past year. On October 23 of last year, the stock was priced at Rs 16.
The company has announced that its board members will meet on October 26 to discuss and approve the unaudited financial results for the quarter and half-year. The financial year 2024-25 ended on September 30, 2024.
Stock Performance and Trends
Reliance Power shares reached a 52-week high of Rs 54.25 today, with a 52-week low of Rs 15.53. Although the stock has fallen nearly 7% in the last five trading days, it has gained 70% so far this year.
In the past year, the stock has increased by 150%, and over the last five years, it has gained an impressive 1,141.54%. However, it has also lost 85% in the long term, having been priced at Rs 275 on May 23, 2008.
LIC’s Investment in Reliance Power
Life Insurance Corporation (LIC) has a significant investment in Reliance Power, holding 10,26,59,304 shares, which represents a 2.56% stake in the company.
Recently, Reliance Group companies, including Reliance Infrastructure Limited and Reliance Power Limited, are planning to raise funds totaling Rs 17,600 crore while maintaining a zero-debt position.
In the past two weeks, these companies have announced plans to raise Rs 4,500 crore through a preferential issue of equity shares
and Rs 7,100 crore through equity-linked long-term Foreign Currency Convertible Bonds (FCCB) from Varde Partners, a well-known global investment firm. These bonds have a maturity period of 10 years and an interest rate of 5%.
