Reliance Power shares gained over 20% this week following the settlement of its ₹3,872 crore obligation as a guarantor for Vidarbha Industries Power Ltd (VIPL). The settlement resulted in the release and discharge of all corporate guarantees and undertakings relating to the outstanding debt.
Furthermore, the company announced that all disputes with CFM Asset Reconstruction, with 100% of VIPL’s shares committed in favour of CFM.
In an important update, the company announced that it currently has no debt from banks or financial institutions.
In the meantime, Reliance Power share opened at ₹36.31 on Friday, peaking at ₹36.34 before dipping to a low of ₹35.52. The stock’s performance reflects a day of volatility, highlighting investor sentiment amid broader market trends.
