Shares of the Reliance Group company have been in focus for the past one year. The stock has gained nearly 90 percent in a year. Shares of Reliance Power are seeing a continuous rise. Shares of the company touched an intra-day high of Rs 28.80 during trading on Tuesday.
Recently the company has announced that it will be debt free. Let us tell you that recently Reliance Power has cleared all outstanding loans from lenders and is now a debt free company. About 800 crores of loan was outstanding on the company.
According to the brokerage firm, the shares of the company may rise further. Recently, Sumit Bagdia, Executive Director, Choice Broking, gave a target price of Rs 34 on shares of Reliance Power and recommended it as a buy.
Let us tell you that shares of Reliance Power, which are trading at less than Rs 50, have returned more than 7 times in the last five years.
After five years the share price was Rs 4 per share. Reliance Power is a constituent of S&P BSE Small Cap and has a market cap of Rs 11,295.72 crore. Its shares have gained 12.6 percent in the last one month. On a year-to-date basis, the stock has returned 17.54 percent.
The stock has gained over 147 percent, 99 percent and 595 percent in the last two years, three years and five years respectively. Let us tell you that in March 2020, the price of this share was 1.20 rupees. That is, according to the current price, this share has increased by 2700 percent so far.
Let us tell you that Reliance Power, formerly Reliance Energy Generation Limited (REGL), is a part of the Reliance Anil Dhirubhai Ambani Group.
It was established to develop, construct, operate and maintain power projects in the Indian and international markets. Reliance Infrastructure, an Indian private sector power utility company, and Reliance ADA Group promote Reliance Power.
Note: Do not invest in stock market without knowledge. Before investing in any shares you should talk to your financial advisor once. If you do not do so, you may suffer financial loss.
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