Another good news for Anil Ambani! The company paid all its outstanding interest

Now good news is coming one after the other for Anil Ambani. In fact, Anil Ambani’s company Reliance Power said on Friday that its subsidiary Samalkot Power Ltd, has fully paid the remaining interest of $ 1.548 million on a term loan with the Export-Import Bank of the United States (EXIM Bank). Has paid. Along with this, Reliance Power said that after this repayment made by Samalkot Power, the contingent liability of Reliance Power as a guarantor for this loan has now ended.

Reliance Power is booming

The shares of Anil Ambani’s power company Reliance Power are continuously rising. On Thursday, this share went into the upper circuit as soon as it reached Rs 43.14. At the same time, on Friday also a rise of 3.27 percent was seen. This stock has registered a rise of more than 18% in the last 5 days.

What is the reason for the boom?

This surge in the shares of Reliance Power (R Power) has come after the Solar Energy Corporation of India (SECI) removed the ban on the company from participating in the tender for solar projects. Actually, SECI has lifted the ban on Reliance Power, which has increased opportunities for the company in solar projects. Let us tell you, on Tuesday, December 3, the company informed about the removal of this restriction in its regulatory filing. After this, there was a positive sentiment towards the company in the stock market and the stock remained in upper circuit for two consecutive days. Apart from this, due to this repair done by Samalkot Power, this stock may see a rise on Monday also.

big jump after fall

There was a big fall in the shares of Reliance Power due to the ban of Solar Energy Corporation. On November 19, the stock had fallen to Rs 33.3, which was 38% down from its 52-week high of Rs 53.64. However, now since the ban has been lifted, there has been a strong recovery in the stock. Since November 19, a jump of more than 30% has been recorded.

Reliance Power’s multibagger return

Reliance Power shares have given tremendous returns to investors in 2024. So far this year, this stock has increased by more than 85%. Apart from this, it has given a return of 168% in 2 years. Whereas, this share has given a return of 242% in 3 years. Whereas, if we talk about 5 years, this stock has given a return of more than 1,115% in the last 5 years. Actually, the main reason for the better performance of Reliance Power is that the company has become completely debt-free and is now looking for new projects in the renewable energy sector.

Disclaimer: (The information provided here is being provided for information only. It is important to note here that investment in the market is subject to market risks. Always seek expert advice before investing money as an investor. ABPLive.com does not advise anyone It is never advisable to invest money here.)

Also read: Most Expensive Credit Card: This is the ‘credit card’ of the rich, a person becomes a millionaire as soon as he keeps it in his purse.