Reliance Power stock goes zoom! It’s like magic, hitting the 5% limit for the eighth day in a row on September 27. The big numbers stay still, but this stock is moving up like a rocket.
It started going up on September 9. There were some reasons for this, like the big Battery Storage Contract. On September 16, the stock went up again after they got a super important deal for 500 MW/1000 MWh from Solar Energy Corporation of India. Wow! They said they’re gonna be a big player in battery storage. That’s super cool!
Then, on September 18, more good news came. Reliance Power said it got free from a big promise it made before. This had to do with some money from a company called Vidarbha Industries Power Limited. They owed a lot, like 3,872.04 crore. But all that is settled now. They gave 100% of VIPL’s shares to another company to make this happen. Boom! The stock went up 5% again in the same day!
On September 19, guess what? The stock jumped again because the board was gonna meet on September 23 to talk about getting more money for the future. That’s exciting stuff!
On September 23, they announced they’re gonna give out 46.2 crore shares for Rs 1,524.60 crore at Rs 33 each. That’s a little cheaper than before! They wanna give some to Reliance Infrastructure Ltd and some other companies too.
People who look at stocks think this is good news. At 1:13 pm, the stock was stuck at 5% up, at Rs 46.35 on NSE. This year, it’s gone up by 93%! Nifty, the big index, only went up 18% this year.
In the last month, it went up 49%! And over the year, it’s shot up 140%! That means if you bought some, you got back more than double your money. Nifty? Just 30% up in the same time.
Just a note: What smart people say about money on Moneycontrol.com is what they think. You should ask a pro before buying stocks!
This post is for informational purposes only.Invest responsibly.No guarantees of results. Seek professional guidance before investing.Consult experts for personalized advice.AI-assisted content, editorially reviewed.See our terms for details. Follows Google policies.Not affiliated with Investopedia.com. investopedia.co.in Independent site.
