Reliance Power (RPower) hit its upper circuit today, closing at ₹44.15, up 4.99%, marking its 10th consecutive session of gains. The stock has been on a strong upward trajectory, gaining nearly 48% since September 13, 2024, when it closed at ₹29.83.
The surge follows Reliance Power’s announcement of a ₹1,524.60 crore preferential issue, approved during a board meeting on September 23, 2024. The company plans to issue up to 46.2 crore equity shares priced at ₹33 per share, with the funds expected to support its growth initiatives.
Here’s a snapshot of RPower’s closing prices over the last 10 sessions:
- Sep 26, 2024: ₹44.15 (+4.99%)
- Sep 25, 2024: ₹42.05 (+5.00%)
- Sep 24, 2024: ₹40.05 (+4.98%)
- Sep 23, 2024: ₹38.15 (+5.00%)
- Sep 20, 2024: ₹36.34 (+5.01%)
- Sep 19, 2024: ₹34.61 (+4.66%)
- Sep 18, 2024: ₹32.97 (+5.00%)
- Sep 17, 2024: ₹31.40 (+5.04%)
- Sep 16, 2024: ₹31.05 (+4.10%)
- Sep 13, 2024: ₹29.83
With the company’s decision to raise capital, Reliance Power appears to be in a strong position to continue its upward momentum.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
