Shares of Reliance Infrastructure Ltd. rose 3% to ₹260.30 in early trading on November 19, 2024, following the announcement of significant board restructuring aligned with the company’s Vision 2030 growth strategy.
Key Highlights:
- Board Reconstitution:
- Reliance Infrastructure appointed Partha Sarma, President of Group Corporate Development, as an Additional Director.
- Reliance Power promoted Ashok Pal, CFO, to Executive Director, while appointing Sachin Mohapatra, CEO of Sasan Power Ltd., and Harmanjit Singh Nagi, President of Corporate Development, as Additional Directors.
- Strategic Focus:
- The restructuring aims to align leadership with the Vision 2030 growth strategy, emphasizing renewable energy, green technologies, and infrastructure development.
- This move highlights the company’s commitment to leveraging internal talent and fostering innovation for sustained growth.
- Leadership Profiles:
- Partha Sarma brings global expertise in financial services, defense, and infrastructure, having been with the Reliance Group for over six years.
- Ashok Pal, with over 25 years of experience, has been instrumental in Reliance Power’s financial strategy.
- Sachin Mohapatra leads the 4,000 MW Sasan Power UMPP, one of the largest coal-based power plants globally.
- Harmanjit Singh Nagi specializes in green energy and strategic leadership, with expertise in solar and hydroelectric projects.
Market Reaction:
At 9:31 AM, shares of Reliance Infrastructure were trading 2.42% higher at ₹260.30 on the NSE, reflecting positive investor sentiment towards the company’s growth-oriented leadership and strategic investments in renewable energy and innovation.
TOPICS:
Reliance Infrastructure