Top News

Shares of Anil Ambani’s companies have been rising for a few days. Reliance Infrastructure and Reliance Power shares surged over 10% in just two trading sessions. Anil Ambani has faced years of financial struggles with most of his companies under stress. However the recent gains are after getting new projects that have revived investor confidence. On the BSE Reliance Infrastructure’s stock rose 4.98% to Rs 288.60 while Reliance Power climbed 5% to Rs 47.70 over the past two days. Why Is Reliance Infrastructure Share Surging? Reliance Infrastructure received a Letter of Award from state-run NHPC for a major 390 MW solar power project with integrated battery storage. The battery system will have a storage capacity of 780 MWh. Once completed Reliance Group will have the ability to generate 700 MWp of solar power and store 780 MWh of electricity significantly boosting its clean energy portfolio. The company’s 52-week high is Rs 425. Also Read: Big win for Anil Ambani order classifying loan account as ‘fraudulent’ withdrawn by… court disposes of… Why Reliance Power Share Price Climbed? Reliance Power already has a capacity of around 2.5 GW of solar power and 2.5 GWh of battery storage. It has now established a new company in Bhutan named GDL – Reliance Solar Pte Ltd (GRSPL). This venture is a subsidiary of Reliance Power and has been incorporated in Bhutan’s Special Administrative Region (SAR) called Gelephu Mindfulness City. Also Read: Big relief to Anil Ambani in Rs 920000000 case NCLAT stays insolvency proceedings against… after full payment to… Stories Highlights Anil Ambani Company share price surge Reliance Infra receives Project from NHPC Reliance Infrastructure share price high Reliance Power share price climb The entity is a joint venture (JV) between Green Digital Pvt Ltd (a Bhutan government company) and Reliance Enterprises Pvt Ltd (REPL). Reliance Power’s 52-week high is Rs 76.49.