Reliance Power | Business Upturn

Reliance Power reports lapse of 21.82 crore outstanding warrants

Arunika Jain — Tue, 28 Apr 2026 16:35:00 +0000

Reliance Power has announced the lapse of 21.82 crore outstanding warrants, along with the amount paid on them, due to non-conversion within the stipulated 18-month period. This disclosure was made in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company had initially issued these warrants, but the conversion did not occur within the prescribed timeframe, resulting in their lapse. The announcement follows a previous communication from Reliance Power dated October 29, 2024, regarding these warrants.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Reliance Power reports lapse of 12.50 crore outstanding warrants

Kinjal — Mon, 27 Apr 2026 16:33:58 +0000

Reliance Power has announced that 12.50 crore outstanding warrants issued by the company have lapsed. This development follows the non-conversion of these warrants within the prescribed 18-month period.

The company had previously communicated about these warrants in letters dated October 28, 2024, May 07, 2025, and May 20, 2025. According to the latest disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the lapse of these warrants also includes the amount paid on them.

The warrants were initially issued with a conversion option, allowing holders to convert them into equity shares within the stipulated timeframe. However, the failure to exercise this option has led to their expiration.

This announcement was made in compliance with the applicable SEBI Circular, and the company has requested that the information be taken on record.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Reliance Infrastructure clarifies departure of former executives Amitabh Jhunjhunwala and Amit Bapna

Yash Agarwal — Thu, 16 Apr 2026 07:33:20 +0000

Reliance Infrastructure Limited has issued a media statement clarifying the departure of two former executives, Amitabh Jhunjhunwala and Amit Bapna, from the Reliance Group. The statement addresses media queries regarding their association with the company.

Amitabh Jhunjhunwala left the Reliance Group in September 2019, nearly seven years ago, and has had no association with the group since, including with Reliance Infrastructure Limited and Reliance Power Limited. During his tenure, he held the position of Group Managing Director of the Reliance Group and served as Vice Chairman and Director of Reliance Capital Limited.

Similarly, Amit Bapna departed from the Reliance Group in December 2019, also nearly seven years ago, and has not been associated with the group thereafter. During his time with the group, he served as the Chief Financial Officer of Reliance Capital Limited and was a Director of Reliance Home Finance Limited.

Reliance Infrastructure Limited, along with Reliance Power Limited, is part of the Reliance Group, which boasts a combined investor base of approximately 50 lakh shareholders and serves millions of customers. Reliance Infrastructure is one of the largest infrastructure companies in India, with projects in high-growth sectors such as Power, Roads, Metro Rail, and Defence. The company is a significant player in providing Engineering and Construction services for developing power, infrastructure, metro, and road projects.

Reliance Power Limited is a leading power generation company in India, with a total installed capacity of 5,305 MW. This includes the Sasan Ultra Mega Power Project in Madhya Pradesh, which is the largest integrated thermal power plant in the world.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Reliance Power clarifies that Amitabh Jhunjhunwala and Amit Bapna are not associated with the company since many years now

Yash Agarwal — Thu, 16 Apr 2026 07:30:28 +0000

Reliance Power Limited has clarified the status of two former key executives in response to media inquiries. The company confirmed that Amitabh Jhunjhunwala, who served as the Group Managing Director of the Reliance Group and Vice Chairman and Director of Reliance Capital Limited, left the group in September 2019. Since his departure nearly seven years ago, he has had no association with Reliance Infrastructure Limited or Reliance Power Limited.

Similarly, Amit Bapna, who held the position of Chief Financial Officer of Reliance Capital Limited and was a Director of Reliance Home Finance Limited, exited the Reliance Group in December 2019. Like Jhunjhunwala, Bapna has not been associated with Reliance Infrastructure Limited or Reliance Power Limited since his departure.

The Reliance Group, which includes Reliance Infrastructure Limited and Reliance Power Limited, boasts a combined investor base of approximately 50 lakh shareholders. The group serves millions of customers and consumers across various sectors.

Reliance Infrastructure Limited is recognised as one of the largest infrastructure companies in India, with projects in high-growth sectors such as power, roads, metro rail, and defence. The company is a significant player in providing engineering and construction services for developing power, infrastructure, metro, and road projects.

Reliance Power Limited, on the other hand, is one of India’s leading power generation companies with a total installed capacity of 5,305 MW. This includes the Sasan Ultra Mega Power Project in Madhya Pradesh, which is the largest integrated thermal power plant in the world.

For further information, interested parties can contact Daljeet Singh at 9818802509 or via email at daljeet.s.singh@reliancegroupindia.com, and Biswajit Baruah at 9920747639 or biswajit.baruah@reliancegroupindia.com.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Reliance Power reports ₹250 crore outstanding debt securities as of March 2026

Yash Agarwal — Fri, 10 Apr 2026 14:14:31 +0000

Reliance Power Limited has disclosed its half yearly statement of debt securities, revealing an outstanding amount of ₹250 crore as of 31 March 2026. This information was released in accordance with the Master Circular No. SEBI/HO/DDHS/DDHS-PoD/P/CIR/2025/0000000137 dated 15 October 2025, which mandates periodic reporting of debt securities.

The statement details a single issuance of debt securities by Reliance Power, identified by the ISIN number INE614G07089. The issuance date for these securities was 10 July 2017, with a maturity date set for 30 June 2035. The securities carry a coupon rate of 8.00%, with interest payable at the end of the tenure, specifically on 30 June 2035.

The total amount issued under this debt security was ₹250 crore, which also matches the outstanding amount as of the reporting date. There are no embedded options associated with this issuance.

This disclosure provides a clear view of Reliance Power’s debt obligations and is part of the company’s compliance with regulatory requirements set forth by the Securities and Exchange Board of India (SEBI).

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Reliance Power shares volatile as ED conducts raids at multiple locations linked to Anil Ambani

Markets Desk — Fri, 06 Mar 2026 04:13:21 +0000

Shares of Reliance Power were volatile in early trade today, March 6 after reports emerged that the Enforcement Directorate (ED) carried out search operations at multiple locations linked to companies associated with Anil Ambani.

According to inputs from ANI, the ED conducted raids at around 10–12 locations, with approximately 15 ED teams carrying out search operations early in the morning. Officials said the searches are being conducted against individuals linked to Reliance Power Limited and other companies associated with Anil Ambani.

The stock saw sharp intraday movement following the development. Reliance Power shares had opened at ₹22.41 and climbed to an intraday high of ₹23.24, before giving up gains and trading around ₹22.69, marginally higher than the previous close of ₹22.55.

The latest action by the ED comes amid ongoing investigations related to alleged financial irregularities. Earlier reports indicated that Anil Ambani had appeared before the Enforcement Directorate in connection with a money laundering investigation linked to an alleged ₹40,000 crore case, according to a report by The Times of India.

The searches are part of the agency’s continuing probe into financial transactions and entities connected to the business group. Officials said the action is currently underway and further details may emerge once the searches are completed.

Reliance Power, part of the Anil Ambani-led Reliance Group, operates power generation assets and has been under investor watch due to regulatory and legal developments involving the group.

Reliance Power shares drop over 2% as Q2 net profit falls 97% YoY to Rs 87.3 crore

Aman Shukla — Tue, 11 Nov 2025 04:10:16 +0000

Reliance Power Limited’s shares slipped over 2% in early Tuesday trade after the company announced its Q2 FY26 results, revealing a sharp decline in net profit despite strong revenue and operating performance. As of 9:39 AM, the shares were trading 2.38% lower at Rs 40.12.

On a year-on-year (YoY) consolidated basis, the company reported a 12.2% rise in revenue to ₹1,974 crore, compared to ₹1,760 crore in the same quarter last year. The company’s EBITDA jumped 64.3% to ₹618 crore, up from ₹376 crore, showcasing strong operational efficiency. The EBITDA margin expanded significantly to 31.3% from 21.4%, reflecting improved cost management and higher generation efficiency.

However, despite these positive trends, Reliance Power’s net profit plunged 97% YoY to just ₹87.3 crore, compared to a massive ₹2,878 crore in the previous year’s quarter.

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.

Reliance Power’s subsidiary Reliance NU Energies wins LOA for 750 MW / 3,000 MWh under SJVN’s 1,500 MW FDRE Tender

Aman Shukla — Tue, 11 Nov 2025 03:34:49 +0000

Reliance Power Limited has achieved a major milestone in India’s renewable energy space as its wholly-owned subsidiary, Reliance NU Energies Private Limited, emerged as the largest winner in SJVN Limited’s landmark 1500 MW / 6000 MWh Firm and Dispatchable Renewable Energy (FDRE) ISTS tender. The company received the Letter of Award (LOA) on November 10, 2025, marking a significant achievement for the group’s clean energy ambitions.

In this first-of-its-kind FDRE tender, Reliance NU Energies secured a capacity of 750 MW / 3,000 MWh, representing the largest single allocation under the project. The tender, which was oversubscribed 3.3 times with participation from 14 qualified bidders, aims to revolutionize India’s renewable energy landscape by enabling round-the-clock power supply through hybrid and storage-based solutions.

With this win, the Reliance Group has strengthened its position as India’s largest player in the Solar plus Battery Energy Storage System (BESS) segment. The group now holds a total renewable energy portfolio of more than 4 GWp of solar capacity and 6.5 GWh of BESS across four tenders, achieved in just ten months. This rapid progress reflects Reliance’s strong execution capabilities and its clear commitment to India’s clean energy transition and decarbonization goals.

The project will supply dispatchable renewable peaking power to DISCOMs through a hybrid configuration combining around 900 MWp of solar generation with over 3,000 MWh of battery storage capacity. Reliance NU Energies secured this capacity at a highly competitive tariff of ₹6.74 per kWh, setting a new benchmark in the evolving renewable energy market of India.

The SJVN FDRE tender marks a pioneering moment in the country’s power sector, being the first structured initiative to deliver renewable peaking power across states. It will play a vital role in supporting India’s targets of expanding renewable energy generation and reducing carbon emissions.

This project also aligns perfectly with Reliance Power’s long-term vision of transitioning toward cleaner energy sources. By focusing on large-scale, storage-backed renewable energy generation, the company continues to drive sustainable value creation for all stakeholders while contributing to India’s journey toward energy independence and a greener future.

Top 10 volume gainers today, September 16: Vodafone Idea, Redington, Suzlon Energy, Reliance Power and more

Aman Shukla — Tue, 16 Sep 2025 06:57:41 +0000

The Indian stock market has seen significant trading activity today, with several stocks witnessing high volumes and notable price movements. As of 12:22 PM on September 16, here are the top 10 volume gainers:

1. Vodafone Idea – Trading at ₹8.03, Vodafone Idea saw a slight dip of 1.35%, but the stock recorded an exceptionally high volume of 61.2 crore shares, making it the biggest volume gainer of the day.

2. Redington – Redington shares surged 15.06% to ₹277.77 on heavy trading, with 6.57 crore shares changing hands.

3. Suzlon Energy – Suzlon Energy, in focus due to recent news, traded at ₹59.09, up 1.76%, with a total volume of 5.94 crore shares.

4. Reliance Power – Shares of Reliance Power rose 3.79% to ₹47.38 with 3.19 crore shares traded.

5. Yes Bank – Yes Bank slipped slightly by 0.43% to ₹20.92, with a trading volume of 3.18 crore shares.

6. Samvardhana Motherson International – The stock rose 2.14% to ₹110.12, with a volume of 3.00 crore shares.

7. NTPC Green Energy – Trading at ₹105.68, NTPC Green Energy gained 2.05%, with 1.88 crore shares changing hands.

8. NHPC – NHPC shares increased 2.06% to ₹88.39 with a trading volume of 1.87 crore shares, making it another active stock today.

9. GMR Airports – In the news today, GMR Airports rose 3.94% to ₹92.68, with 1.74 crore shares traded.

10. NCC – NCC shares increased 1.70% to ₹215.70, with 1.30 crore shares traded, rounding off the top 10 volume gainers.

Reliance Power says CBI action on Reliance Communications has no impact

Aman Shukla — Sun, 24 Aug 2025 05:57:17 +0000

Reliance Power Limited has issued a clarification in response to recent media reports concerning the Central Bureau of Investigation’s action against Reliance Communications Limited and Anil D. Ambani. The company stated that these developments have no impact on its business operations, financial performance, shareholders, employees, or any other stakeholders.

The clarification noted that the complaint filed by State Bank of India against Reliance Communications dates back more than a decade. At that time, Anil Ambani was serving only as a non-executive director of the company, without any role in its daily management. He had resigned from the Reliance Communications board in 2019, nearly six years ago. Since then, the telecom company has been managed under the supervision of a committee of creditors led by SBI and overseen by a resolution professional. The matter continues to remain sub judice before the NCLT, the Hon’ble Supreme Court, and other judicial forums.

Reliance Power underlined that it is an entirely separate and independent listed entity with no business or financial connection to Reliance Communications. The company also highlighted that Anil Ambani has not been associated with its board for over three and a half years, which means that any regulatory or investigative action concerning Reliance Communications has no bearing on the governance, management, or operations of Reliance Power.

The company reiterated its focus on executing business plans and strengthening its growth trajectory while remaining committed to creating long-term value for its stakeholders. Through this clarification, Reliance Power sought to address market concerns and make it clear that its operations and governance structure remain unaffected by the recent developments surrounding Reliance Communications.

Top Q1 results today, July 19: HDFC Bank, ICICI Bank, Yes Bank, J K Cement, Reliance Power and more to announce earnings

Aman Shukla — Sat, 19 Jul 2025 03:13:06 +0000

It’s a big day on the earnings calendar! As of July 19, 2025, several major and mid-sized companies across sectors are set to announce their Q1 FY26 results.

Investors and analysts will be keeping a close eye on updates from major banks like HDFC Bank, ICICI Bank, Union Bank of India, Yes Bank, Central Bank of India, RBL Bank, AU Small Finance Bank, and Punjab & Sind Bank, along with financial players such as Can Fin Homes, Gowra Leasing & Finance, and Continental Securities.

The cement and infrastructure space will also be in focus, with India Cements, J K Cement, Reliance Power, and ATV Projects India set to report. From the manufacturing and speciality segment, results are due from Seshasayee Paper & Boards, High Energy Batteries, Rossari Biotech, and Vardhman Acrylics. Other notable updates are expected from Epack Durable, Vintage Coffee & Beverages, and Vanta Bioscience.

With such a broad set of earnings lined up, today’s announcements could offer key insights into sectoral trends and set the tone for the coming weeks in the market.

Disclaimer: This article is for informational purposes only. It is not intended to be investment advice or a recommendation to buy or sell any stock. Readers are advised to consult their financial advisor before making any investment decisions.

Reliance Power shares jump 15% in last 7 days; Details here

Aman Shukla — Wed, 04 Jun 2025 04:04:16 +0000

Reliance Power shares have risen around 15% over the last seven trading sessions, showing strong momentum on the exchanges. As of today’s session, the stock opened at ₹59.00, reached an intraday high of ₹60.80, and recorded a low of ₹58.54. As of 9:31 AM, the shares were trading 2.04% higter at Rs 60.09.

The recent uptrend has brought the stock close to its 52-week high of ₹62.80. Its current 52-week low stands at ₹23.30.

While there has been no formal announcement from the company during this period, market participants continue to track the stock amid broader movements in the power and infrastructure space.

Reliance Power Q4 Results

Reliance Power posted a net profit of ₹125.6 crore for the quarter ended March 31, 2025, marking a turnaround from a net loss of ₹397.6 crore in the same period last year. Revenue from operations declined marginally by 1% year-on-year to ₹1,978 crore.

Despite the slight dip in revenue, the company’s operational performance improved significantly. EBITDA rose to ₹589.8 crore, a sharp 1,109% increase from ₹48.8 crore a year ago. EBITDA margin improved to 29.8% from 2.4%, reflecting better cost efficiency and generation performance.

Total income for the quarter stood at ₹2,066 crore. The company also repaid ₹5,338 crore in debt over the past year, reducing its debt-to-equity ratio to 0.88:1 from 1.61:1 in FY24. Net worth increased to ₹16,337 crore.

Key projects continued stable operations. The Sasan Ultra Mega Power Project achieved a plant load factor (PLF) of 87%, while the Rosa Power Plant maintained 97% availability. The company reported zero bank debt and no payment defaults for the year.

Reliance Power shares jump 2% as company signs commercial term sheet for long-term power purchase agreement with Green Digital, Bhutan

Aman Shukla — Mon, 19 May 2025 04:40:18 +0000

Reliance Power shares surged over 2% in early trade after the company signed a commercial term sheet for a long-term Power Purchase Agreement (PPA) with Green Digital Private Limited (GDL), a subsidiary of Bhutan’s Druk Holding and Investments Limited (DHI). As of 10:08 AM, the shares were trading 2.68% higher at Rs 46.28.

This milestone agreement paves the way for Bhutan’s largest solar power project — a 500 MW plant to be developed under a 50:50 joint venture between Reliance Power and DHI. The Build-Own-Operate (BOO) model project will see an estimated investment of INR 2,000 crore, marking the largest foreign direct investment (FDI) in Bhutan’s solar energy sector by a private entity.

Reliance Power has already initiated the EPC tendering process through international competitive bidding to ensure cost efficiency and high-quality execution. Financing discussions are underway with top financial institutions to secure long-tenor, sustainable project funding.

The project will be executed in phases over 24 months and is expected to significantly boost Bhutan’s solar capacity, reducing reliance on hydropower and supporting South Asia’s clean energy transition.

This initiative builds on the October 2024 strategic partnership between Reliance Enterprises (a JV of Reliance Power and Reliance Infrastructure) and DHI, which also includes the development of the 770 MW Chamkharchhu-I hydroelectric project.

With a clean energy pipeline of 2.5 GWp solar and 2.5 GWh Battery Energy Storage Systems (BESS), Reliance Power is strengthening its position as a major player in India’s renewable energy sector.

Reliance Power signs commercial term sheet for long-term power purchase agreement (PPA) with Green Digital (GDL), Bhutan

Aman Shukla — Mon, 19 May 2025 03:36:18 +0000

Reliance Power Limited has signed a commercial term sheet for a long-term Power Purchase Agreement (PPA) with Green Digital Private Limited (GDL), a subsidiary of Druk Holding and Investments Limited (DHI), the investment arm of the Royal Government of Bhutan. This agreement marks a key development in advancing cross-border clean energy infrastructure between India and Bhutan.

Under a 50:50 joint venture between Reliance Power and DHI, Bhutan’s largest solar power project will be developed with an installed capacity of 500 MW. The project will follow a Build-Own-Operate (BOO) model with a planned capital investment of up to INR 2,000 crore. It represents the largest foreign direct investment (FDI) in Bhutan’s solar energy sector by a private company.

Reliance Power has initiated the Engineering, Procurement, and Construction (EPC) tendering process using international competitive bidding standards. This approach is intended to ensure technical efficiency and cost competitiveness. The company is also in discussions with financial institutions to structure long-tenor, sustainable project financing options.

The solar project will be executed in multiple phases over the next 24 months and is designed to align with Bhutan’s national sustainability goals and the broader regional clean energy transition in South Asia. Once operational, it will significantly increase Bhutan’s solar generation capacity and support the diversification of its renewable energy sources beyond hydropower.

This initiative follows the October 2024 strategic partnership agreement between Reliance Enterprises — jointly promoted by Reliance Power and Reliance Infrastructure — and Druk Holding and Investments Limited. In addition to the 500 MW solar project, the agreement includes the long-term development and operation of the 770 MW Chamkharchhu-I hydroelectric project, structured under a concession model in line with Bhutan’s energy strategy.

With this project, Reliance Power continues to expand its renewable energy footprint. Its clean energy pipeline currently includes 2.5 GWp of solar capacity and over 2.5 GWh of Battery Energy Storage Systems (BESS), positioning it as a leading player in India’s integrated Solar + BESS segment.

Reliance Power subsidiary wins 350 MW Solar + 175 MW/700 MWh BESS project in SJVN tender

Aman Shukla — Mon, 12 May 2025 03:29:00 +0000

Reliance Power Limited, through its wholly owned subsidiary Reliance NU Energies Private Limited, has secured the largest allocation in SJVN Limited’s recent tariff-based competitive bidding process. The allocation includes 350 MW of solar power generation capacity along with a 175 MW/700 MWh Battery Energy Storage System (BESS).

This development adds 600 MWp of solar PV capacity and 700 MWh of energy storage to Reliance Power’s renewable energy portfolio. With this addition, the company’s total clean energy pipeline reaches 2.5 GWp of solar capacity and over 2.5 GWh of BESS, establishing it as the largest player in India’s integrated Solar + BESS segment.

The project was awarded at a tariff of INR 3.33 per kWh, fixed for a 25-year term. The Letter of Award (LoA) from SJVN is currently awaited. This allocation is part of a broader 1,200 MW solar and 600 MW / 2,400 MWh BESS Inter-State Transmission System (ISTS)-connected tender floated by SJVN, a Navratna Public Sector Enterprise. The tender received strong interest, with participation from 19 companies and oversubscription by more than four times.

As per tender conditions, the project includes a minimum daily discharge window of four hours, aimed at providing reliable peak power to state distribution companies (Discoms). It will be executed under a build-own-operate (BOO) framework, adhering to the Ministry of Power’s standard bidding guidelines.

In a related development, Reliance Power’s other 100% subsidiary, Reliance NU Suntech Private Limited, has signed a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI). The agreement covers the development of a 930 MW solar project paired with a 465 MW/1860 MWh BESS. The project will operate at a fixed tariff of INR 3.53 per kWh for the entire duration and represents an estimated investment of up to INR 10,000 crore.

Upon commissioning, this will be Asia’s largest integrated Solar + BESS installation, further contributing to grid stability and long-term clean energy supply.

These project wins reflect Reliance Power’s strategic focus on scalable renewable energy infrastructure, with a growing emphasis on hybrid solar and storage systems that support India’s energy transition goals.

Reliance Power shares jump 3% after its subsidiary announces Rs 10,000 crore investment in Solar + BESS project

Aman Shukla — Fri, 02 May 2025 05:03:42 +0000

Reliance Power shares climbed over 3% after its subsidiary, Reliance NU Suntech, signed a groundbreaking 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI). This strategic pact covers the supply of 930 MW of solar power integrated with a 465 MW/1,860 MWh battery energy storage system (BESS), positioning it as Asia’s largest single-location solar-BESS project.

The project, announced in an exchange filing on Friday, will be developed over the next 24 months with an estimated investment of up to ₹10,000 crore. Power will be supplied at a fixed tariff of ₹3.53 per kilowatt hour (kWh), ensuring long-term revenue visibility.

To meet the contracted capacity, Reliance NU Suntech will deploy over 1,700 MWp of solar generation, combined with advanced energy storage solutions to ensure grid reliability and energy efficiency. This development strengthens Reliance Power’s position in India’s growing clean energy sector.

Reliance Power shares opened at ₹40.75, reaching a high of ₹41.54 and a low of ₹40.15. Over the past 52 weeks, the stock has experienced significant volatility, with a high of ₹53.64 and a low of ₹23.30.

Reliance Power subsidiary to invest Rs 10,000 crore in solar + BESS project

Aman Shukla — Fri, 02 May 2025 03:32:06 +0000

Reliance NU Suntech Private Limited, a subsidiary of Reliance Power Limited, has signed a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI). The agreement covers the supply of 930 MW of solar power integrated with a 465 MW/1,860 MWh Battery Energy Storage System (BESS) at a fixed tariff of ₹3.53 per kWh.

This PPA follows Reliance NU Suntech’s success in SECI’s Tranche XVII auction in December 2024, where it secured the largest award for solar and storage capacity. The auction involved bids for 2,000 MW of Inter-State Transmission System (ISTS)-connected solar projects and 1,000 MW/4,000 MWh of BESS capacity.

The project will involve deploying more than 1,700 MWp of installed solar generation capacity. It will be developed at a single location and is expected to be commissioned within 24 months. The estimated investment for the project is up to ₹10,000 crore.

Reliance NU Suntech has submitted a Performance Bank Guarantee (PBG) of ₹378 crore to SECI as part of the contract requirements. The entire bidding process, from reverse auction to the signing of the PPA, was completed in under five months.

This development contributes to India’s renewable energy goals and adds significant capacity to the national grid through solar and battery storage integration.

Reliance Power shares jump 9% as Q3 reports net profit of Rs 42 crore, turnaround from loss Rs 1,137 crore

Aman Shukla — Thu, 06 Feb 2025 04:53:33 +0000

Reliance Power shares surged 9% in early trade following the company’s impressive Q3 result. As of 10:21 AM, the shares were trading 9.34% higher at Rs 43.65.

Despite a 4.7% dip in revenue, which stood at Rs 1,853 crore compared to Rs 1,944 crore in the same period last year, the company reported a significant turnaround in profitability. The EBITDA for the quarter reached Rs 492 crore, a remarkable recovery from the previous year’s EBITDA loss of Rs 364 crore. This positive shift reflects improved operational efficiency and strategic initiatives taken by the company.

Reliance Power also posted a margin of 26.5%, signaling strong cost control and higher profitability. The company’s net profit of Rs 42 crore marks a sharp contrast to the substantial loss of Rs 1,137 crore in the previous year.

Reliance Power’s stock opened at ₹41.36, reaching a high of ₹43.94 and a low of ₹40.96 during trading. The company’s 52-week high stands at ₹53.64, while the 52-week low is ₹19.40.

Sasan Power repays $150 million loan to IIFCL, strengthening Reliance Power’s balance sheet

Matrika Shukla — Wed, 01 Jan 2025 09:19:28 +0000

Sasan Power Limited, a subsidiary of Reliance Power Limited, has successfully repaid a $150 million loan to the India Infrastructure Finance Company Limited (IIFCL), UK. The payment, completed on December 31, 2024, marks a significant step in bolstering the company’s financial health.

Sasan Power operates the world’s largest integrated coal-based power plant, the 3,960 MW Ultra Mega Power Plant (UMPP) in Sasan, Madhya Pradesh. The plant features a captive coal mining capacity of 20 million tonnes per annum (MTPA) and supplies electricity to 14 distribution companies (DISCOMs) across seven Indian states: Madhya Pradesh, Uttar Pradesh, Rajasthan, Punjab, Haryana, Uttarakhand, and Delhi. With the lowest tariff in India at ₹1.54 per unit, the plant provides affordable electricity to more than 40 crore people.

For seven consecutive years, Sasan Power has been ranked as India’s best-performing power plant, reflecting its operational excellence and efficiency.

The loan repayment will further enhance the company’s debt coverage metrics, improve liquidity, and strengthen its credit rating. It also underscores Reliance Power’s commitment to maintaining a robust financial position as it transitions toward renewable energy.

Reliance Power recently raised ₹1,525 crore through equity-linked warrants via a preferential issue, enhancing its equity base and positioning the company to capitalize on growth opportunities in the renewable energy sector. The company’s net worth currently stands at ₹14,393 crore and is projected to exceed ₹15,000 crore with the recent capital infusion.

Speaking about the development, a spokesperson for Reliance Power highlighted that the company’s shift toward renewable energy aligns with its long-term growth strategy in a rapidly evolving energy market.

Reliance Power arm secures Rs 3,760 crore loan from PFC

Aditya Bhagchandani — Fri, 27 Dec 2024 19:35:22 +0000

Reliance Power Limited’s subsidiary, Rosa Power Supply Company Limited, has signed definitive agreements to avail a term loan facility of ₹3,760 crore from Power Finance Corporation Limited (PFC). The funds will be disbursed in multiple tranches, subject to customary conditions precedent.

Loan Utilization

The proceeds from this loan will be allocated for general corporate purposes, including:

Investments in renewable energy projects by the group.
Capital expenditure for flue gas desulfurization at Rosa.

Key Details

Loan Provider: Power Finance Corporation Limited (PFC).
Nature of Transaction: Not a related party transaction; executed at arm’s length.
Impact: Supports the group’s renewable energy expansion and compliance with environmental norms.

This strategic funding aligns with Reliance Power’s focus on sustainable growth and enhancing its renewable energy portfolio.

Reliance Power subsidiary bags 930 MW solar and 465 MW/1860 MWh battery storage project

Aman Shukla — Tue, 17 Dec 2024 07:13:12 +0000

Reliance NU Suntech, a subsidiary of Reliance Power Limited, has secured a landmark contract from the Solar Energy Corporation of India (SECI) for a 930 MW solar power project combined with a 465 MW/1860 MWh Battery Energy Storage System (BESS). This project will be Asia’s largest deployment of grid storage batteries, second only to China, marking a significant leap in renewable energy technology in India.

The project, awarded after a competitive e-reverse auction on December 9, 2024, promises to supply peak power for four hours daily. This will help alleviate the strain on DISCOMs, which have been purchasing expensive power from exchanges during peak hours. The energy storage system, charged by solar power, ensures a reliable and cost-effective alternative to conventional energy sources.

Reliance NU Suntech will operate the project under a build-own-operate model, and SECI will sign a 25-year Power Purchase Agreement (PPA) to supply solar energy to multiple Indian DISCOMs.

This achievement highlights the technological advancements in solar power with BESS, making it a sustainable solution for India’s growing energy needs.

Reliance Power shares hit 5% upper circuit as subsidiary wins 930 MW Solar-BESS project

Aman Shukla — Thu, 12 Dec 2024 03:58:07 +0000

Reliance Power shares hit a 5% upper circuit following its subsidiary, Reliance NU Suntech Private Limited, securing a landmark project to develop a 930 MW solar energy plant integrated with a 1,860 MWh Battery Energy Storage System (BESS). The project, awarded by the Solar Energy Corporation of India (SECI) during an e-reverse auction on December 9, 2024, establishes Reliance NU Suntech as the largest individual awardee in SECI’s Tranche XVII auction.

Key Highlights:

Project Size: 930 MW solar power + 1,860 MWh BESS.
Winning Tariff: ₹3.53/kWh.
Duration: 25-year Power Purchase Agreement (PPA) with SECI.
Daily Supply: 4-hour peak power to India’s Inter-State Transmission System (ISTS).

Reliance Power shares hit 5% upper circuit after SECI withdraws debarment notice

Aman Shukla — Wed, 04 Dec 2024 03:59:26 +0000

Reliance Power’s stock surged 5% on Tuesday, hitting the upper circuit limit, after the Solar Energy Corporation of India (SECI) withdrew its debarment notice against the company. This development has opened doors for Reliance Power and its subsidiary, Reliance NU BESS Limited (formerly Maharashtra Energy Generation Limited), to once again participate in SECI’s future tenders.

On November 6, SECI had debarred Reliance Power and its subsidiary for a period of three years, prohibiting them from participating in any SECI tenders. However, after legal proceedings, the debarment was lifted with immediate effect, allowing the company to regain eligibility.

This withdrawal is significant for Reliance Power, as it restores the company’s ability to engage in SECI’s solar and renewable energy projects, which are crucial for its business growth. While the debarment has been revoked, SECI retains the right to take further legal actions if necessary.

Reliance Power’s shares opened at ₹41.09, marking the day’s high and low. Despite this volatility, the company’s stock remains near its 52-week high of ₹53.64, with its 52-week low recorded at ₹19.40.

Anil Ambani-led Reliance Group stocks: Reliance Power gains 8.24%, Reliance Infra up 5.34%, while Reliance Home Finance dips 10.71% this week

News Desk — Sun, 01 Dec 2024 04:15:30 +0000

Stocks of the Anil Ambani-led Reliance Group exhibited a mixed performance during the week of November 25–29, 2024. While some companies posted gains, others witnessed a decline.

Reliance Home Finance Ltd saw a decline of ₹0.27, representing a 10.71% drop for the week, closing at ₹2.25. The stock faced selling pressure due to prevailing market sentiments.

On the positive side, Reliance Infrastructure Ltd gained ₹14.10 (5.34%) to close the week at ₹277.90, highlighting some investor confidence in infrastructure projects.

Similarly, Reliance Power Ltd recorded a notable increase of ₹2.94, or 8.24%, closing at ₹38.64, as power sector stocks continued to gain traction.

Weekly Performance Table

Stock	Closing Price (₹)	Weekly Gain (₹)	Weekly Gain (%)
Reliance Home Finance Ltd	2.25	-0.27	-10.71
Reliance Infrastructure Ltd	277.90	14.10	5.34
Reliance Power Ltd	38.64	2.94	8.24

The week’s performance indicates varied investor interest across the group’s companies, reflecting sectoral and market-specific dynamics.

Disclaimer:

This article is for informational purposes only and should not be interpreted as financial or investment advice. Readers are advised to consult with a professional financial advisor before making any investment decisions.

Reliance Power and Reliance Infrastructure reconstitute boards, appoint 4 new directors

Matrika Shukla — Mon, 18 Nov 2024 11:32:04 +0000

Reliance Group companies, Reliance Power Ltd. and Reliance Infrastructure Ltd., have reconstituted their boards, elevating four senior executives to the board of directors, as part of their Vision 2030 growth strategy.

The newly appointed directors at Reliance Power include Ashok Pal, Chief Financial Officer (CFO) of Reliance Power, who has been promoted to Executive Director. Sachin Mohapatra, CEO of Sasan Power Ltd., and Harmanjit Singh Nagi, President of Corporate Development at Reliance Power, have been appointed as Additional Directors. At Reliance Infrastructure, Partha Sarma, President of Group Corporate Development, has been appointed as an Additional Director.

The restructuring aims to position the boards with leadership aligned with the group’s Vision 2030 strategy, focusing on growth and innovation. This move emphasizes the group’s commitment to rewarding internal talent, recognizing proven leadership, and fostering a culture of sustained growth. The newly appointed directors bring hands-on experience, with expertise in key sectors such as finance, power, energy, and environmental sustainability.

Ashok Pal, a Chartered Accountant with over 25 years of experience in finance, taxation, and compliance, has been with Reliance Power for over seven years. As CFO, he has contributed significantly to the company’s financial strategies. Sachin Mohapatra, who has been with the group for eight years, has led the 4000 MW Sasan Power UMPP, one of the world’s largest integrated coal-based power plants. His leadership has helped position Sasan as one of India’s top sustainable plants.

Harmanjit Singh Nagi brings more than three decades of expertise in strategic leadership and business development, particularly in green energy initiatives, including large-scale solar and hydroelectric projects. Partha Sarma, associated with Reliance Group for more than six years, has significant experience in global business leadership, particularly in financial services, defense, and infrastructure.

The restructuring aligns with the companies’ plans to target significant investments in renewable energy and new technologies, ensuring the group remains competitive and future-ready. The newly established Reliance Group Corporate Centre (RGCC) will provide strategic guidance to these newly appointed directors, ensuring a smooth integration into their leadership roles.

Reliance Power shares drop 3% after Q2 FY25 results

Aman Shukla — Wed, 13 Nov 2024 04:03:16 +0000

Reliance Power shares fell over 3% following the release of its Q2 FY25 financial results.

The company reported a revenue of ₹1,759.81 crore, marking a 13.6% year-over-year (YoY) drop from ₹2,037.80 crore in Q2 FY24 and an 11.7% quarter-over-quarter (QoQ) decline from ₹1,992.23 crore.

Despite lower revenue, Reliance Power posted a profit of ₹2,878.15 crore from continuing operations, a substantial improvement over the previous year’s loss of ₹276.19 crore and the last quarter’s loss of ₹98.28 crore. This profit was primarily driven by an exceptional gain of ₹3,230.42 crore, attributed to the deconsolidation of a subsidiary

As of 9:16 am, Reliance Power shares were trading 3.47% lower at Rs 37.05 on the NSE.

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.

Reliance Power Q2 FY25 results: Stock drops 5% ahead of result announcement

Aman Shukla — Tue, 12 Nov 2024 04:46:27 +0000

Reliance Power’s stock witnessed a significant decline of more than 5% in the morning trade today, with shares trading between ₹37.52 and ₹39.24. The company’s stock opened at ₹38.50, reflecting a cautious investor sentiment as it prepares to announce its Q2 FY25 financial results.

The stock’s 52-week high stands at ₹53.64, while its 52-week low is ₹19.40, highlighting the volatility in recent months. As the results approach, market watchers are closely monitoring the company’s performance to gauge future trends.

As of 10:17 am, Reliance Power shares were trading 4.78% lower at Rs 37.61 on the NSE.

Reliance Power responds to SECI debarment notice, claims victimization in alleged fraud case

Aditya Bhagchandani — Thu, 07 Nov 2024 12:25:51 +0000

Reliance Power Ltd. has received a debarment notice from the Solar Energy Corporation of India (SECI), preventing the company and its subsidiaries from participating in all future tenders issued by SECI for a period of three years, effective from November 6, 2024. The restriction stems from allegations that one of Reliance Power’s subsidiaries, Reliance NU BESS Limited, submitted a bid with a reportedly fake endorsement of a bank guarantee arranged by a third party.

In response, Reliance Power has issued a statement clarifying its stance and defending its actions:

Victim of Fraud: The company asserted that it and its subsidiaries acted in good faith and have fallen victim to fraud, forgery, and a cheating conspiracy orchestrated by external parties.
Legal Action Initiated: A criminal complaint has already been lodged with the Economic Offence Wing of the Delhi Police against the third-party entity involved, with the complaint filed on October 16, 2024. The matter is under legal investigation.
Pledged Legal Defense: Reliance Power has stated its commitment to pursuing all necessary legal steps to challenge SECI’s decision. The company emphasized that it will act in the best interests of its over 40 lakh shareholders.

Reliance Power’s proactive response highlights its determination to clear its name and continue its operations in the renewable energy sector, despite the setback from SECI’s debarment directive.

Reliance Power hits back-to-back upper circuit as shares rise on debt repayment news

Aditya Bhagchandani — Thu, 07 Nov 2024 04:46:10 +0000

Shares of Reliance Power Limited surged, hitting back-to-back upper circuits for two consecutive days. As of 9:52 am, the stock was trading 4.98% higher at ₹45.76 on news of a substantial debt repayment by its subsidiary, Rosa Power Supply Company Limited. Rosa Power prepaid a loan of ₹485 crore to Singapore-based Varde Partners, achieving a zero-debt status, which strengthens its balance sheet significantly. With this recent repayment, Rosa Power’s total prepayment has reached ₹1,318 crore.

Earlier in September, Rosa Power had prepaid ₹833 crore to Varde Partners as part of its debt-reduction efforts. The company operates a 1,200 MW coal-based thermal power plant located in Rosa village, near Shahjahanpur, Uttar Pradesh, which contributes significantly to its operations.

Reliance Power’s financial position has been further bolstered by a recent issuance of equity-linked warrants worth ₹1,525 crore, which is expected to increase the company’s net worth from ₹11,155 crore to over ₹12,680 crore. This strengthened financial foundation and debt-free status align with Reliance Power’s strategic shift towards the renewable energy sector. With zero bank debt as a listed entity, Reliance Power is well-positioned to explore and expand in sustainable energy opportunities.

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. The author or Business Upturn is not liable for any losses arising from the use of this information.

Reliance Power Share Price history

Day	Open	Close	Change %
Wed, Nov 6 2024	₹41.80	₹43.59	+4.99%
Tue, Nov 5 2024	₹42.00	₹41.52	-1.21%
Mon, Nov 4 2024	₹42.50	₹42.03	-2.32%
Fri, Nov 1 2024	₹43.40	₹43.03	+0.70%
Thu, Oct 31 2024	₹42.15	₹42.73	+1.91%
Wed, Oct 30 2024	₹41.00	₹41.93	+2.07%
Tue, Oct 29 2024	₹41.29	₹41.08	-1.01%
Mon, Oct 28 2024	₹43.20	₹41.50	-3.94%

Reliance Power shares jump nearly 5% as subsidiary Rosa Power achieves zero-debt status

Aditya Bhagchandani — Thu, 07 Nov 2024 04:24:26 +0000

As of 9:52 am, Reliance Power shares were trading 4.98% higher at ₹45.76, following news of a significant debt repayment by its subsidiary, Rosa Power Supply Company Limited. Rosa Power prepaid a loan of ₹485 crore to Singapore-based Varde Partners, achieving a debt-free status. This brings Rosa Power’s total prepayment to ₹1,318 crore, a move that considerably strengthens its balance sheet.

Earlier in September, Rosa Power had also prepaid ₹833 crore to Varde Partners as part of its debt-clearing initiatives. The company operates a 1,200 MW coal-based thermal power plant in Rosa village, near Shahjahanpur, Uttar Pradesh.

Reliance Power’s recent issuance of equity-linked warrants, valued at ₹1,525 crore, is projected to increase the company’s net worth from ₹11,155 crore to over ₹12,680 crore. This enhanced financial standing and debt-free status are in line with Reliance Power’s long-term strategy to expand into the renewable energy sector. With zero bank debt as a listed entity, the company is well-positioned to pursue sustainable energy growth opportunities.

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. The author or Business Upturn is not liable for any losses arising from the use of this information.

Reliance Power to announce Q2 FY25 results on Saturday, October 26

Aditya Bhagchandani — Sat, 19 Oct 2024 22:04:46 +0000

Reliance Power Limited has scheduled a Board meeting for Saturday, October 26, 2024, to consider and approve its unaudited financial results for the second quarter and half-year ended September 30, 2024, for the financial year 2024-25. The results will include both standalone and consolidated financial statements.

As per the company’s compliance guidelines, the trading window for designated persons has been closed from Friday, September 27, 2024, and will remain closed until 48 hours after the announcement of the Board Meeting outcome.

Reliance Power shares declines 5% for four straight sessions amid profit-booking

Aditya Bhagchandani — Tue, 08 Oct 2024 04:34:33 +0000

Shares of Reliance Power dropped by 5% for the fourth consecutive session on October 7, continuing their decline as investors engaged in profit-booking. The stock, currently trading at ₹45.98, is now 16% below its 52-week high of ₹53.64, which was reached last week.

This fall comes after a stellar surge of over 60% in the past month, driven by strong investor sentiment following the company’s announcement that it had become debt-free. However, amid broader market sell-offs, investors took the opportunity to book profits, pushing the stock down.

Earlier in September, Reliance Power’s sentiment was bolstered when the company announced the settlement of all disputes with CFM Asset Reconstruction Private Limited, releasing it from corporate guarantees linked to ₹3,872.04 crore of debt owed by its subsidiary, Vidarbha Industries Power Limited (VIPL).

Stocks hitting lower circuit today: Zee Media, PC Jeweller, Reliance Power and more

Aditya Bhagchandani — Fri, 04 Oct 2024 04:53:57 +0000

On October 4, multiple stocks hit their lower circuits amidst a flat trading session in the SE Midcap and Smallcap indices. Major losers on the Nifty included BPCL, Bajaj Finance, Cipla, NTPC, and Hero MotoCorp, while some of the gainers were SBI Life Insurance, ONGC, Tata Motors, Wipro, and Maruti Suzuki. Most sectors, apart from IT and Metal, were trading in the red, with the Realty index declining by 2%.

Stocks in Focus

Several stocks faced significant drops and were trading close to their lower circuit limits, indicating a strong downward trend in today’s market.

KAMO Paints: Trading at ₹27.22, the stock saw a sharp decline of 9.98%. This drop was accompanied by a trading volume of 140.20k, showing significant selling pressure.
Zee Media: At ₹22.61, Zee Media experienced a fall of 4.96%. With a trading volume of 2.76 million, the stock faced high selling activity.
Reliance Power: The stock traded at ₹50.97, falling by 4.99%. It had a high trading volume of 14.14 million shares, reflecting notable investor exit from the stock.
PC Jeweller: PC Jeweller saw a significant decline to ₹159.00, down by 4.87%. The stock’s trading volume reached 854.55k, suggesting strong bearish sentiments.
VLEGOV: Trading at ₹149.90, the stock fell by 4.97% with a volume of 141.58k, indicating a sharp decline.
Panacea Biotec: The stock saw a fall of 4.99%, trading at ₹306.20. The trading volume was 22.56k shares.

Broader Market Performance

The SE Midcap and Smallcap indices traded flat during the session, while most Nifty stocks witnessed pressure. The market witnessed divergent sectoral performances:

Top Nifty Losers: BPCL, Bajaj Finance, Cipla, NTPC, and Hero MotoCorp faced significant declines.
Top Nifty Gainers: SBI Life Insurance, ONGC, Tata Motors, Wipro, and Maruti Suzuki were among the stocks that managed to trade positively.
Sectoral Highlights: Most sectors, barring IT and Metal, were in the red. The Realty index took a hit, declining by 2%. Meanwhile, the IT and Metal indices managed to maintain a relatively stable stance amidst the volatility.

Reliance Power to raise Rs 4200 crore via FCCBs

Aditya Bhagchandani — Thu, 03 Oct 2024 14:47:20 +0000

Reliance Power Limited (RPOWER) has announced that its Board has approved raising funds up to US$500 million (~INR 4,200 crore) through the issuance of Foreign Currency Convertible Bonds (FCCBs).

These FCCBs will have an ultra-low interest rate of 5% per annum and a tenure of 10 years. The private placement will be made to affiliates of Värde Investment Partners, a global alternative investment firm. The FCCBs will be convertible into equity shares of the company at a price of INR 51 per share.

Additionally, RPOWER’s Board has approved an Employee Stock Option Scheme (ESOS), allowing the issuance of up to 22 crore fully paid-up equity shares of INR 10 each, representing approximately 5% of the company’s fully diluted capital.

This ESOS is designed to align employee earnings potential with the company’s growth and performance. However, the implementation of the ESOS is subject to shareholder approval.

Reliance Power hits upper circuit after forming partnership with DHI

Aman Shukla — Thu, 03 Oct 2024 04:29:13 +0000

Reliance Group shares hit the 5% upper circuit in morning trade after Reliance Group partnered with DHI to develop 500 MW solar and 770 MW hydro projects in Bhutan.

The partnership will focus on green energy generation, including the construction of a 500 MW solar power plant in Gelephu Mindfulness City and a 770 MW Chamkharchhu-1 hydroelectric project.

This strategic collaboration demonstrates Reliance Group’s commitment to sustainable energy development by enhancing Bhutan’s renewable energy landscape while promoting its clean energy goals. The partnership also marks the largest foreign direct investment (FDI) by an Indian private company in Bhutan’s renewable energy industry.

Anil Ambani’s Reliance Group partners with Druk Holding to develop 500 MW solar and 770 MW hydro projects in Bhutan

News Desk — Wed, 02 Oct 2024 10:18:40 +0000

Anil Ambani’s Reliance Group, in partnership with Druk Holding and Investments Ltd. (DHI), the commercial arm of the Royal Government of Bhutan, has announced major renewable energy initiatives in Bhutan. The strategic partnership will focus on green energy generation, with the development of a 500 MW solar power plant in Gelephu Mindfulness City and a 770 MW Chamkharchhu-1 hydroelectric project.

Key Highlights:

Reliance Enterprises Private Limited (REPL), a newly formed company by Reliance Infrastructure and Reliance Power, will lead the initiatives to promote investment in Bhutan’s renewable and green energy sector.
The 500 MW solar plant will be developed in two phases of 250 MW each over the next two years. Once completed, it will be the largest solar installation in Bhutan, significantly contributing to the country’s clean energy generation and efforts to combat climate change.
The 770 MW Chamkharchhu-1 hydroelectric project, a run-of-the-river venture, is classified under a concession model in alignment with Bhutan’s national policy. This project will add substantial power capacity to Bhutan’s existing generation capabilities of 2,452 MW.

This strategic agreement underscores Reliance Group’s commitment to sustainable energy development, aiming to enhance the renewable energy landscape of Bhutan while furthering its clean energy goals. The collaboration also represents the largest foreign direct investment (FDI) by an Indian private company in Bhutan’s renewable energy sector.

Anil Ambani, Chairman of Reliance Group, and Ujjwal Deep Dahal, CEO of Druk Holding, expressed optimism about the partnership’s potential to drive green energy projects that will benefit both Bhutan and India. The projects will support Bhutan’s ambitions for a net-zero economy, reinforcing its commitment to the environment and clean energy.

These initiatives align with Bhutan’s vision of sustainable development and Gross National Happiness (GNH), promoting economic growth while ensuring the well-being of its citizens.

Reliance Power shares surge 21% this week as board approves Rs 1,525 crore fundraise via preferential issue

Aman Shukla — Sat, 28 Sep 2024 08:06:42 +0000

Anil Ambani-promoted Reliance Power share jumped more than 21% this week following the company’s board approval for a preferential issue of equity shares worth ₹1,525 crore. The move is part of the company’s strategic objective to boost its financial standing and expand its renewable energy business.

The company’s press announcement states that the issue entails up to 46.20 crore equity shares or warrants convertible into equity shares at a price of ₹33 per share. Parent company Reliance Infrastructure will raise its equity stake in Reliance Power by over ₹600 crore. Non-promoter investors, including Authum Investment & Infrastructure and Sanatan Financial Advisory Services, are also participating in the issue.

Reliance Power shares at another upper circuit, rally for straight 11th sessions

Aman Shukla — Fri, 27 Sep 2024 04:43:44 +0000

Anil Ambani’s power company Reliance Power’s share has witnessed its stock skyrocket since the company announced that it had become debt-free. And today the shares hit another 5% upper circuit, marking its 11th consecutive session of gain.

Take a look at Reliance Power’s closing prices over the last 11 sessions:

Sep 27, 2024: ₹46.35 (+4.98%)
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

NCLT allows withdrawal of application against Reliance Power

Aditya Bhagchandani — Thu, 26 Sep 2024 06:45:56 +0000

Reliance Power Limited announced that the National Company Law Tribunal (NCLT), Mumbai Bench, has permitted the withdrawal of an application filed against the company by CFM Asset Reconstruction Private Limited.

This application was initially filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The order was passed on September 25, 2024, and the formal documentation of the order is awaited.

The company shared this development through stock exchanges, referring to their prior communications dated June 11, 2024, and September 17, 2024.

In accordance with Regulation 30 of the Listing Regulations and SEBI Circular SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123, Reliance Power informed stakeholders about the NCLT’s decision.

This favorable news has positively impacted Reliance Power’s stock price, which saw a surge of 4.99%, trading at ₹44.15 as of 12:08 pm.

Reliance Power hits upper circuit, surges 4.99% to ₹44.15 as stock extends rally for 10th consecutive session

News Desk — Thu, 26 Sep 2024 04:51:16 +0000

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.

Reliance Power Block Deal: 8.6 crore shares worth Rs 357 crore change hands

News Desk — Wed, 25 Sep 2024 04:21:48 +0000

Reliance Power witnessed a substantial large trade today with 8.6 crore shares, representing 2.1% of the company’s equity, changing hands at ₹42 per share. The total value of the transaction stood at ₹357 crore.

The stock opened at ₹42.05 and reached a high of ₹42.05, while the low for the session was ₹40.25. As of 9:46 AM, the stock was trading at ₹41.50, up 3.62% from its previous close of ₹40.05. This large trade indicates continued investor interest, following the recent momentum driven by news of the company’s ₹1,524.60 crore preferential issue announcement.

Reliance Power stock surges around 5% for second straight day after Rs 1,524 crore fundraise announcement

News Desk — Wed, 25 Sep 2024 04:10:59 +0000

Shares of Reliance Power rose by 4.34% to ₹41.79 on the NSE at 9:38 AM, continuing the momentum from yesterday’s 5% upper circuit. The surge follows the announcement that the company will seek shareholders’ approval to raise ₹1,524.60 crore through a preferential issue of up to 46.20 crore equity shares and/or convertible warrants at a price of ₹33 per share/warrant.

This fundraise, aimed at expanding business operations, reducing debt, and general corporate purposes, will also see Reliance Infrastructure, the company’s promoter, infusing ₹600 crore. Other investors include Authum Investment and Infrastructure Ltd and Sanatan Financial Advisory Services. The capital raise is expected to boost Reliance Power’s net worth from ₹11,155 crore to over ₹12,680 crore.

The e-voting process began on Tuesday and will conclude on October 23, 2024, with the results to be announced on or before October 25, 2024. The increased capital will also enhance the company’s participation in the renewable energy sector, with the company currently having zero bank debt.

Reliance Power hits upper circuit as board approves ₹1,525 crore fundraise via preferential issue

News Desk — Tue, 24 Sep 2024 03:48:59 +0000

Anil Ambani-promoted Reliance Power surged 4.98% to ₹40.05 in early trading, hitting its upper circuit limit following the company’s board approval for a preferential issue of equity shares worth ₹1,525 crore. The move is part of the company’s strategic plan to strengthen its renewable energy business and bolster its financial position.

According to the company’s press release, the issue entails up to 46.20 crore equity shares or warrants convertible into equity shares at a price of ₹33 per share. Parent company Reliance Infrastructure will increase its equity stake in Reliance Power by over ₹600 crore. Non-promoter investors like Authum Investment & Infrastructure and Sanatan Financial Advisory Services are also participating in the issue.

Reliance Power shares surge 5% ahead of fund raising meet

Aman Shukla — Mon, 23 Sep 2024 04:50:22 +0000

Anil Ambani-owned Reliance Power shares hit 5% upper circuit in morning trade after the company declared a board meeting date to consider and approve the fundraising proposal.

The firm board scheduled the meeting for September 23, 2024, which is today. The company’s share price rose to an intraday high of ₹38.15 on the NSE, ahead of the board meeting

In the exchange filing, the company shared, “We wish to inform you that a meeting of the Board of Directors of the Company will be held on Monday, September 23, 2024, inter alia, to consider and approve raising of long term resources from domestic and/or global markets, inter alia, by the issue of equity shares/equity-linked securities/ warrants convertible into equity shares, by way of a preferential issue and/or qualified institutional placement and/or rights issue and/or foreign currency convertible bonds or any other method including determination of issue price, if any and seeking members’ and other approval(s), as the Board may deem appropriate.”

Reliance Power shares surge 20% this week after settling Rs 3,872 crore guarantee obligation

Aman Shukla — Sat, 21 Sep 2024 04:29:51 +0000

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.

Reliance Power and Reliance Infra share price surges another 5% today post debt reduction

News Desk — Thu, 19 Sep 2024 04:00:05 +0000

Shares of Reliance Power (RPOWER) surged 4.97% to ₹34.61, and Reliance Infrastructure (RELINFRA) climbed 3.08% to ₹291.45 at 9:24 AM on the NSE following the announcement that the two Anil Ambani Group firms have collectively reduced their debt by ₹7,220 crore.

Reliance Infrastructure’s external debt dropped from ₹3,831 crore to ₹475 crore after settling dues with several lenders, including LIC and Edelweiss. This significant reduction in debt boosts the financial health of both companies.

Reliance Power shares hit upper circuit after settling ₹3,872 crore guarantee obligation

Aditya Bhagchandani — Wed, 18 Sep 2024 03:58:41 +0000

Reliance Power Ltd’s shares surged by 5% on September 18, hitting the upper circuit after the company announced the settlement of its ₹3,872 crore obligation as a guarantor for Vidarbha Industries Power Ltd (VIPL). The settlement led to the release and discharge of all corporate guarantees and undertakings related to the outstanding debt.

The company also revealed that it had settled all disputes with CFM Asset Reconstruction, with 100% of VIPL’s shares pledged in favor of CFM. As of 9:15 am, Reliance Power shares were trading at ₹32.97 on the NSE, up by 5% from the previous session.

In a significant update, Reliance Power announced it now holds zero debt from banks and financial institutions. The company’s consolidated net worth stood at ₹11,155 crore by the end of Q1 FY25.

Additionally, Reliance Power, Rosa Power Supply Company, and VIPL are set to withdraw all legal proceedings against CFM Asset Reconstruction, and CFM will do the same, including cases under the Insolvency and Bankruptcy Code.

Despite recent challenges, including a five-year market ban on promoter Anil Ambani by SEBI, Reliance Power clarified that the SEBI order does not affect its business or operations. Anil Ambani had resigned from the board in February 2022, and the company emphasized that no directives were issued against it in the SEBI order.

Stock Market news: ONGC, Reliance Power settle liabilities; Torrent Power, Inox Wind secure major projects; Radhakishan Damani trims stake in VST Industries

News Desk — Wed, 18 Sep 2024 02:53:46 +0000

In today’s market update, several key developments are making headlines, ranging from tax cuts to significant project announcements and major corporate moves.

Green: Key Developments

ONGC & Oil India: The windfall tax on crude petroleum has been reduced to nil from the previous ₹1,850/tonne, a significant relief for oil majors such as ONGC and Oil India, potentially improving their bottom lines.
Torrent Power: Torrent Power has received a Letter of Intent (LoI) from Maha Discom for the execution of a 1,500 MW pumped hydro storage project. This project aligns with the growing focus on renewable energy infrastructure.
Mankind Pharma: Mankind Pharma has scheduled a board meeting on September 20 to discuss a potential fundraising initiative through non-convertible debentures (NCDs) and other securities, indicating plans for further expansion.
Inox Wind: Inox Wind continues to expand its wind energy portfolio, receiving an LoI from IGREL Renewables for the execution of a 550 MW wind capacity project, adding to its already impressive order book.
SKF India: SKF India’s parent company, AB SKF, has announced its decision to separate its global automotive business, which could impact SKF India’s future strategic alignment.
Reliance Power: In a major development, Reliance Power has settled a ₹3,872 crore guarantee liability for Vidarbha Industries, relieving a significant financial burden on the company.
Reliance Infrastructure: Reliance Infrastructure will settle dues worth ₹385 crore with Edelweiss ARC, marking progress in addressing its financial obligations.
Ceigall India: Ceigall India has emerged as the lowest bidder for HAM (Hybrid Annuity Model) projects worth ₹2,499 crore, further solidifying its position in the infrastructure space.
Vakrangee: Vakrangee has entered into a partnership with Star Health to offer health insurance products, expanding its portfolio in the financial services sector.
RattanIndia Enterprises: RattanIndia’s Revolt Motors launched its new e-bike Revolt RV1 at an introductory price of ₹84,990, aiming to capture the growing demand in the electric vehicle market.
Suraj Estate: LIC MF-Flexicap Fund acquired 2.83 lakh shares of Suraj Estate through block deals at ₹758.9 per share, indicating institutional interest in the real estate company.

Red: Key Developments

VST Industries: In a noteworthy transaction, Radhakishan Damani sold 1 lakh shares (0.65% equity) of VST Industries via block deals at ₹439.19 per share, a move that could raise investor concerns about the company’s near-term outlook.

These developments highlight significant corporate activities and strategic moves, with the energy, renewable, and infrastructure sectors taking the spotlight. Investors will closely monitor these updates as the market opens.

Reliance Power shares surge 5% on major order win in renewable energy sector

Aditya Bhagchandani — Mon, 16 Sep 2024 07:08:21 +0000

Reliance Power has won a significant contract in the renewable energy sector, securing a 500 MW/1000 MWh Battery Energy Storage Systems (BESS) project. The project was awarded by the Solar Energy Corporation of India (SECI) through a competitive auction, where JSW Neo Energy also secured a similar 500 MW project.

Reliance Power’s winning bid came with a tariff of ₹3.8199 lakh per MW per month, marking a substantial reduction from previous BESS projects. This contract positions the company as a key player in one of the world’s largest standalone battery energy storage projects.

As of 12:35 PM, Reliance Power’s shares saw a 5% rise, trading at ₹31.32.

This contract will require Reliance Power to set up the storage system, manage installation, and secure all necessary approvals. The system can be charged using any energy source, with the responsibility for charging and discharging resting with the entity purchasing the capacity from SECI.

Reliance Power shares surge 4% on heavy volumes

News Desk — Wed, 04 Sep 2024 05:18:34 +0000

Reliance Power (RPOWER) shares were trading at ₹30.83 on the NSE at 10:44 AM, up 4.23% from the previous close of ₹29.58.

The stock opened at ₹29.26 and reached a high of ₹30.94, with a low matching the opening price at ₹29.26.

Trading volume was significant, with 2,31,09,047 shares changing hands during the morning session.

The stock has shown consistent upward movement since the market opened, maintaining prices above its previous closing level throughout the morning trading hours. This uptick comes amidst high volume in stock, though specific reasons for the increase were not immediately apparent.