Winning Bizness Desk
Mumbai. Anil Ambani has started the week on a positive note as the Delhi High Court granted relief to his company, Reliance Power. This comes after a notice and ban from the Solar Energy Corporation of India Limited (SECI). Following this news, Reliance Power shares have been rising sharply in the stock market. This legal victory is a significant boost for Anil Ambani’s Reliance Power, showcasing resilience amid regulatory challenges. Earlier in November, Reliance Power received a notice from SECI, barring the company and its subsidiaries from participating in SECI tenders for three years. This ban created uncertainty and pressure on the company’s stock price.
Legal Challenge and Court Relief
Reliance Power challenged SECI’s decision in the Delhi High Court. On November 26, 2024, the court granted a stay on SECI’s notice, providing immediate relief to the company. This legal win has positively impacted the company's stock performance, leading to a continuous rise in share prices. Since the court’s decision, Reliance Power shares have been hitting the upper circuit limit of 5% for two consecutive days. On Tuesday, the stock rose significantly, and on Wednesday, the trend continued with another 5% increase.
Can the Stock Reach Rs 53 Again?
Earlier this year, on October 3, 2024, Reliance Power's share price reached ₹53.64, but it later dropped to ₹34.13 due to various challenges. Following the latest developments, the stock is showing signs of recovery.
Key Financial Details
Market Cap: ₹15,377 crore
Return on Capital Employed (ROCE): 1.43%
Return on Equity (ROE): -17.5%
Face Value: ₹10
Book Value: ₹35.8
