Reliance Power: Anil Ambani's company's speed is not stopping, upper circuit is applied for the fourth consecutive day

Shares of Reliance Power presided over by the younger brother of Asia's richest man Mukesh Ambani, are continuously getting hit by an upper. This is for the fourth consecutive day that shares of Reliance Power have been hit by the upper circuit. Upper circuit means people want to buy it, but there is no one to sell.

On Monday, the Reliance Power share reached Rs 38.16 at an upper circuit of 5 percent. This is also its highest level in 52 weeks i.e. one year.

A meeting of the board of directors is scheduled to be held on 23 September of Reliance Power. Consideration of the raise proposal will take place in this.

Anil Ambani's power company wants to raise money from the domestic market as well as the global market. Two of Anil Ambani's companies have recently reduced their debt and due to this, a strong jump is being seen in their shares. These include the name of Reliance Infrastructure along with Reliance Power. Anil Ambani's Reliance Power Wednesday said it has paid the entire liability amount of Rs 3,872 crore as a guarantor for its subsidiary Vidarbha Industries Power. The Unit has a 600 MW power plant in Butibori, Nagpur, supplying aid to Mumbai, is pretty significant in the supply chain of electricity to Mumbai. Adani Group wants to buy this plant. The debt repayment by Reliance Power has now made the way easy for this deal.

Reliance Power shares have been doing very well for quite some time. It has given a huge return of about 22 percent in the last five trading sessions. In the last 6 months, this company of Anil Ambani has given more than 38 percent profit to the investors. Speaking about the last one year, Reliance Power has given a multibagger return of 101 per cent. The company's 52-week high is Rs 38.15, which it made today against the low level of Rs 15.55 where it reached till October last year.