{"id":133934,"date":"2024-09-19T16:07:37","date_gmt":"2024-09-19T10:37:37","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=133934"},"modified":"2024-09-19T16:07:41","modified_gmt":"2024-09-19T10:37:41","slug":"ambani-stock-hits-5-upper-circuit-after-company-becomes-debt-free","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/ambani-stock-hits-5-upper-circuit-after-company-becomes-debt-free\/","title":{"rendered":"Ambani stock hits 5% upper circuit after company becomes debt free"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-262642647\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>This reliance group stock touched a 5% upper circuit for the second consecutive day after it settled an obligation of Rs. 3,872.04 crores.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1811212116\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Stock Price Variations:&nbsp;<\/strong><\/h2><p>With a market capitalization of Rs. 13,247 crores the shares of <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/RPOWER\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Reliance Power Ltd<\/a> <\/strong>touched the upper price band of 5% at Rs. 32.62 for the second consecutive day on the Bombay Stock Exchange, from Wednesday trading session the stock has generated a return of 10%.\u00a0<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Reason for Rise:&nbsp;<\/strong><\/h2><p>According to exchange filings dated September 17, <strong>Reliance Power Ltd<\/strong>. has settled obligations amounting to Rs. 3,872.04 crores under a corporate guarantee provided to the lenders of Vidarbha Industries Power Limited. The company also announced that it has resolved all disputes with CFM Asset Reconstruction Pvt Ltd and is now debt-free from banks and financial institutions<strong>.&nbsp;<\/strong><\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Financial Performance:&nbsp;<\/strong><\/h2><p>For Q1 FY25 the company reported a net loss of Rs. 97.85 Crores compared to Rs.296.31 Crores in Q1 FY24 and the revenue from operations increased to Rs. 1,992.23 Crores from Rs. 1,921.82 Crores in the same period.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-3653945451\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The company successfully reduced its losses over the past two quarters, delivering a 51% return in the last six months and an 81% return over the past year in its share price.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Future Plans&nbsp;<\/strong><\/h2><p>As per the exchange filings, the board of directors of Reliance Power Ltd is scheduled to meet on September 23, 2024, to consider and approve the raising of long-term funds from domestic and global markets.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>About the company:&nbsp;<\/strong><\/h2><p>As a part of Reliance Group, Reliance Power develops, constructs and operates power projects both in India as well as internationally. The Company on its own and through its subsidiaries has a large portfolio of power generation capacity, both in operation as well as capacity under development.&nbsp;<\/p><p>The company has close to 6,000 MW of operational power generation assets.The projects under development include three coal-fired projects, one gas-fired projects and twelve hydroelectric projects, six of them in Arunachal Pradesh, five in Himachal Pradesh and one in Uttarakhand, and has two operational solar power projects in Rajasthan, One wind power projects in Maharashtra.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written By\u00a0Joseph Pv<\/strong><\/p><\/blockquote><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Disclaimer<\/strong><\/h2><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-698774259\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>This reliance group stock touched a 5% upper circuit for the second consecutive day after it settled an obligation of Rs. 3,872.04 crores.&nbsp; Stock Price Variations:&nbsp; With a market capitalization of Rs. 13,247 crores the shares of Reliance Power Ltd touched the upper price band of 5% at Rs. 32.62 for the second consecutive day [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":102418,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[19257,8979,22676,19447,8976,8975,948,936,22675],"class_list":["post-133934","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-ambani-stock","tag-anil-ambani-stock","tag-is-reliance-power-debt-free","tag-reliance-power-debt-free","tag-reliance-power-latest-news","tag-reliance-power-share-price","tag-stock-market","tag-stock-market-news","tag-why-is-reliance-power-share-price-increasing"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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