Rs 1 lakh became Rs 39 lakh! Share price of this Anil Ambani company jumps 3800%, the name is…
GH News September 27, 2024 12:07 PM
After several good news for Anil Ambani one more news can boost the companys 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 16000 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 Powers 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 Powers 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. 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 Singapores 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 1023 crore followed by another Rs 800 crore in August. Most recently the company settled a Rs 3872 crore loan with banks giving it a debt-free status.  (Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)
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