The shares of Anil Ambani -led Reliance Power are making headlines as they continue to climb, hitting the 5 per cent upper circuit for the 11th consecutive session, priced at Rs 53.65 per share on Thursday (October 3).
At 1:37 pm IST, the shares of the company were trading at Rs 53.64, up by 4.99 per cent. Furthermore, the company's shares today opened at 52.09 apiece on NSE.
Since January 2018, this also marks the highest level for the stock of the company.
Share performance |
Reliance Group inks partnership with Bhutan's DHI
Furthermore, the company on October 2, 2024 announced its expansion into Bhutan, through a BSE filing. The company, through the regulatory filing informed that its has entered into a strategic partnership with Druk Holding and Investments Ltd. (DHI), the investment arm of the Royal Government of Bhutan.
"On this occasion, Reliance Group announced the establishment of a new flagship company, Reliance Enterprises, dedicated exclusively to promoting investment in Bhutan's renewable and green energy sector. Jointly promoted by Reliance Infrastructure Ltd. and Reliance Power Ltd., Reliance Enterprises will focus on enhancing sustainable energy solutions and implementing smart distribution and metering systems throughout Bhutan," the company added in the exchange filing.
Major Projects Ahead
The 500 MW solar project, located in Gelephu Mindfulness City, will be executed in two phases over the next two years. Once completed, it will stand as the largest solar installation in Bhutan. Alongside this, the Chamkharchhu-1 hydro project, a run-of-the-river initiative, is set to boost Bhutan's existing power generation capacity, the company added in the regulatory filing.
Recovery in the Market
September saw a strong comeback for Reliance Power and Reliance Infrastructure shares, both of which closed the month with gains surpassing 60 per cent.
