The share price of Reliance Infrastructure, owned by Anil Ambani, has been rising rapidly in recent days. In just 5 days, the return rate of the stock has reached about 50%. At present, the share price of Reliance Infrastructure has exceeded 300 rupees. On Friday, the share price of Reliance Infra was 316.94 rupees, up 11.25%. A month ago, the stock price was 238 rupees, and now it has reached 316.94 rupees, with a return rate of 32% in one month.
Talking about the past one year, Anil Ambani’s company has returned 82%. The stock has gained 48% so far this year. However, the stock has fallen 26% in six months. The 52-week high of the stock is Rs 318 per share, which was touched today, September 20. While the 52-week low is Rs 144.45. The market capitalization of the company is Rs 125.80 crore.
Why is Reliance Infra share price skyrocketing?
Anil Ambani has been working to move the company forward for some time. Recently, Anil Ambani cancelled the debt of Reliance Power. Reliance Infra has also reduced its debt. The company is currently looking to raise more than Rs 3,000 crore. Due to this, the stock price has risen sharply.
The company will raise Rs 300 crore
Anil Ambani has a lot in store for Reliance Infra. Reliance Infrastructure on September 19 said its board has approved a preferential issue of equity shares worth a total of Rs 301.44 crore. Of this, 125.6 million shares or convertible warrants will be issued at an issue price of Rs 240 per share. The aim is to increase the equity stake of the promoters in the company. Now, after this decision, the net worth of the company will increase from Rs 9,000 crore to Rs 12,000 crore through the preferential issue.
Reliance Power also gained
Reliance Power Share has entered the upper reaches today and has gained 5% to Rs 36.34. This growth was seen just a day ago when news broke that the company has repaid all its debts. The gain is 20.85% in five days.
(Note- Before investing in any stock, please consult your market expert.)
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