₹1.20 to ₹28.25: Reliance ADAG penny stock gives 2250% return in four years. More steam left?
Reliance Power shares. After ending at ₹20.40 per share level on 13th March 2024, this Anil Ambani-backed company's stock price has scaled up to ₹28.25 apiece level on NSE, logging nearly 40 percent appreciation in a fortnight. However, Reliance ADAG company's stock has shown a strong upside in the post-COVID rebound.
In the last four years, Reliance Power share price has surged from ₹1.20 per share to ₹28.25 per share level on NSE, recording around 2,250 percent rise in this time. Also Read: Stocks to buy in FY25: Top 5 mid-cap, small-cap shares to buy in new fiscal So, in the post-COVID time, the penny stock has turned into a money-making stock for its shareholders by delivering to the tune of 2,250 percent returns. However, Reliance Power shares need to travel a long way to return the lost money of its investors, invested in the scrip at the time of share listing.
Reliance Power IPO was launched in January 2008 at a price band of ₹405 to ₹450 per equity share and it listed at ₹547.80 on BSE and at ₹530 on the NSE. After the share listing, Reliance Power was given 3:5 bonus shares as well. The Reliance ADAG company recently informed Indian stock market exchanges about the fundraising to the tune of ₹425 crore.
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