Reliance Power, Reliance Infrastructure shares rise up to 7.5%; what’s driving the gains?
Reliance Power surged 5% to a day’s high of Rs 34.62, while shares of Reliance Infrastructure advanced 7.5% to Rs 304 on the BSE on Thursday. This upward rally follows their resolution of past debts and obligations.
Here is what happened:
<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-113479980»> Reliance Power
The company announced on Wednesday that it has settled obligations worth Rs 3,872.04 crore related to the guarantee for the lenders of Vidarbha Industries Power (VIPL).
Additionally, it stated that all disputes with CFM Asset Reconstruction have been resolved, and 100% of VIPL's shares have been pledged to CFM in exchange for the release and discharge of the guarantee provided by Reliance Power.
«VIPL ceases to be a subsidiary of the company and the entire obligations of the company as a guarantor on behalf of VIPL stands fully settled resulting in release and discharge of corporate guarantee, undertakings and all obligations and claims thereunder in relation to the outstanding debt of VIPL amounting to Rs 3,872.04 crore,» the company said in a stock market disclosure.
Stock Trading
Market 101: An Insight into Trendlines and Momentum
By — Rohit Srivastava, Founder
Stock Trading
Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading
By — Rohit Srivastava, Founder
Stock Trading
Market 103: Mastering Trends with RMI and Techno-Funda Insights
By — Rohit Srivastava, Founder
Stock Trading
Market 104: Options Trading: Kickstart Your F&O Adventure
By — Saketh R, Founder- QuickAlpha, Full Time Options Trader
Stock Trading
ROC Made Easy: Master Course for
