Anil Ambani owned Reliance Infrastructure’s shares have surged by over 7 percent, reaching Rs 345.40. Over the past four and a half years, Reliance Infra’s shares have seen a notable growth of more than 3,600 percent. Check details here
Good News for Anil Ambani: Amid the bloodbath in the Indian stock market, with the Sensex falling by more than 1,200 points, industrialist Anil Ambani’s Reliance Infrastructure has seen a remarkable surge in its share prices. On Monday, Reliance Infrastructure’s shares rose over 7 percent to reach Rs 345.40. Notably, over the past four and a half years, Anil Ambani’s company shares have skyrocketed by more than 3,600 percent, climbing from Rs 9 to over Rs 340. Surprisingly, Reliance Infrastructure’s shares are now nearing their 52-week high of Rs 350.90. Anil Ambani is the brother of billionaire businessman Mukesh Ambani and son of Dhirubhai Ambani.
Good News For Anil Ambani: Reliance Infra Wins Rs 780 Crore Arbitration Case
Recently, another good news came for Anil Ambani’s Reliance Infrastructure as it won an arbitration case worth Rs 780 crore. In a filing, the company stated that the Calcutta High Court upheld the arbitration award in its favor in a dispute with Damodar Valley Corporation (DVC). It is worth noting that, Reliance Infra won a hefty deal worth Rs 3,750 crore to build a massive 1,200 MW thermal power station in West Bengal’s Purulia. But due to some setbacks which delayed the project, DVC was compelled to ask for compensation which subsequently gave rise to a legal dispute.
Good News For Anil Ambani: Board Meeting On Tuesday To Raise Funds
Reliance Infrastructure has a board meeting marked in the calendar for Tuesday, October 1, where they’ll be brainstorming on different ways to raise funds. Some ideas on the table include issuing preferential shares, going for qualified institutional placement (QIP), considering rights issue, or even foreign currency convertible bonds (FCCBs).
Good News For Anil Ambani: Share Price Surges by 3,600%
Anil Ambani owned Reliance Infrastructure’s shares skyrocketed by over 3,600 percent in the last four and a half years. notably, on March, 2020, the shares were trading at Rs 9.20, but by September 30, 2024, the shares surged to Rs 345.40. In the last four years alone, the shares increased by 1,400 percent. In the past two years, the Reliance Infrastructure’s shares increased by over 150 percent.
Good News For Anil Ambani: Investors Doubled Their Money In 4 Months
Reliance Infrastructure shares have seen a remarkable growth in the past four months, doubling the rewards for its shareholders. On May 31, 2024, the shares were trading at Rs 166.45. Fast forward to September 30, 2024, and they stood at an impressive Rs 345.40. There’s been a significant surge in the share price over the last month, with a whopping 65% increase. Speaking of highs and lows in the past 52 weeks, the shares reached their zenith at Rs 350.90 and touched the base at Rs 143.70.