Shares of Reliance Power Ltd. jumped 2.49% to ₹34.98 in early trading on November 19, 2024, following the company’s announcement of a board restructuring aligned with its Vision 2030 growth strategy.
Key Highlights:
- Board Reconstitution:
- Reliance Power has promoted Ashok Pal, Chief Financial Officer, to Executive Director.
- Sachin Mohapatra, CEO of Sasan Power Ltd., and Harmanjit Singh Nagi, President of Corporate Development, have been appointed as Additional Directors.
- At Reliance Infrastructure, Partha Sarma, President of Group Corporate Development, has been added as an Additional Director.
- Strategic Growth Focus:
- The restructuring emphasizes sustainable growth and innovation in sectors like renewable energy, green technologies, and infrastructure development.
- The newly appointed directors bring extensive experience in finance, power, energy, and environmental sustainability.
- Leadership Expertise:
- Ashok Pal, with over 25 years in finance and compliance, has been instrumental in Reliance Power’s financial strategies.
- Sachin Mohapatra leads the 4,000 MW Sasan Power UMPP, one of the largest integrated coal-based plants globally.
- Harmanjit Singh Nagi specializes in strategic leadership for green energy initiatives.
- Partha Sarma brings global expertise in financial services and infrastructure.
Market Reaction:
At 9:30 AM, Reliance Power shares were trading 2.49% higher at ₹34.98 on the NSE, reflecting investor optimism about the company’s renewed focus on sustainable energy and growth-oriented leadership.
