Anil Ambani Stocks: Both Anil Ambani’s stock exchange-listed companies, Reliance Power and Reliance Infrastructure, are doing wonders in the trading session of Wednesday, September 18. Reliance Power’s stock is in an upper circuit after a 5 per cent jump, while Reliance Infra’s stock has also jumped 20 per cent to Rs 283.73, and the stock has hit an upper circuit. The rise in both stocks is because while Reliance Power has become a completely debt-free company, Reliance Infra has repaid a loan of Rs 3831 crore, and now the company has only Rs 475 debt outstanding.
Late in the evening of Tuesday, September 17, 2024, Reliance Power informed the stock exchange in a regulatory filing that it had paid the outstanding loan of Rs 3872.04 crore as a guarantor of Vidarbha Industries Power Limited. This resolves all the disputes with CFM Asset Reconstruction Private Limited. In exchange for the corporate guarantee given by Reliance Power, 100% shares of Vidarbha Industries Power Limited have been pledged in favour of CFM.
Due to this news, Reliance Power’s stock opened with a 5 percent jump at Rs 32.97 and hit an upper circuit. Reliance Power is one of the country’s leading private-sector companies. The company produces 5300 MW of electricity through coal, gas, hydro, and renewable energy projects.
The stock of Reliance Infrastructure of Anil Ambani’s Reliance Group is also trading with strong momentum. On Wednesday, September 18, 2024, the company said in a regulatory filing with the stock exchange that the total outstanding debt on Reliance Infrastructure has come down from Rs 3831 crore to Rs 475 crore. The company said that Invent ARC’s outstanding amount has reached zero.
Reliance Infra has also paid the outstanding debt of other lenders, including LIC, Edelweiss Asset Reconstruction Company Limited, ICICI Bank, and Union Bank. The company’s external debt liability has decreased to Rs 475 crore, and its net worth has decreased to Rs 9041 crore.
After Reliance Infra’s debt burden was reduced, its stock jumped 20 percent to a high of Rs 282.73. In the last session, the stock closed at Rs 235.61.
