These shares of Anil Ambani became a rocket as soon as the market opened, the price increased by 34% in 5 days, the company paid off the full loan.

Shares of Anil Ambani’s company Reliance Power have rocketed as soon as the market opened. Shares of Reliance Power traded on Thursday with an upper circuit of 5 percent at Rs. reached 33.10. Shares of the company have jumped more than 34% in 5 days. Reliance Power is now debt free, meaning the company has paid off its entire debt and that is why Reliance Power shares are witnessing this sharp rise. Shares of Reliance Power hit a 52-week high.

Shares of the company surged over 2800%
Shares of Anil Ambani-owned company Reliance Power have increased by more than 2800 percent in the last 4 years. In the last 4 years, Reliance Power’s share is Rs. 1.13 to Rs. 33.10 has happened. Shares of Reliance Power have gained nearly 110% in the last one year. On June 13, 2023, the company’s share was Rs. Was at 16.05. Share of Reliance Power on 13 June 2024 Rs. 33.10 has been reached. Shares of Reliance Power hit a 52-week high of Rs. is 34.35. At the same time, the company’s shares hit a 52-week low of Rs 13.80.

The company repaid its loan in full
Reliance Power is now debt free. The company has paid the dues to the banks in full. The company had a loan of around Rs 800 crore, which Reliance Power has repaid to the banks. Between December 2023 and March 2024, Reliance Power has entered into debt settlement agreements with several banks including IDBI Bank, ICICI Bank, Axis Bank and DBS. The company has now settled the debts of these banks. In December 2023, Reliance Power sold the development rights of its proposed 1200 MW hydro electric project in Arunachal Pradesh to THDC for Rs. 128 crores were sold. Additionally, in March 2024, Reliance Power sold its 45 MW wind power project in Maharashtra to JSW Renewable Energy for Rs. 132 crores was sold.