look news india
The month of September was very good for two companies of Anil Ambani Group. Both these companies have been successful in giving excellent returns to investors during this period. The share prices of Reliance Infrastructure and Reliance Power have seen an increase of 60 percent. Looking at the rise in the shares of companies, it can be said that the confidence of investors has increased significantly.
Reliance shares at new high after 2018
Shares of Reliance Infrastructure rose 60 percent in September to Rs. Managed to reach the level of 336.20. Which is the highest level of the company's shares since December 2018. Last week there was good news about this company. In respect of Damodar Valley Corporation Rs. The company has got great success in the matter of Rs 780 crore.
Apart from this, the debt of the company has also reduced. Reliance Infra's debt has reduced from Rs 3831 crore to Rs 475 crore. The company has signed an agreement of Rs 50 crore with Edelweiss Asset Reconstruction Company. Non-convertible debenture case of Rs 235 crore has also been settled. The company has also repaid the loan taken from LIC and ICICI Bank. The company has now sold shares and issued convertible warrants for Rs. Will try to raise Rs 6014 crore.
Reliance Power also showed its strength
On the other hand, shares of Reliance Power also saw a rise of 60 percent in September. On September 30, the company's shares were at the level of Rs 48.6. This is the highest level of the company's shares since January 2018. The company has signed an agreement of Rs 20 crore with Vidarbha Industries Power Limited. The ongoing dispute of Rs 3872.04 crore has also been resolved. Now all eyes will be on the company's board meeting. Which is proposed on 3 October 2024. The board of a company may be permitted to raise long-term funds from domestic and global markets.