Reliance Power shares have witnessed a significant surge following the Union Budget 2024, driven by the company’s achievement of debt-free status. The stock has climbed over 30% in eight consecutive sessions, reaching new 52-week highs. Experts believe the Budget’s focus on power and infrastructure growth will further benefit the company’s financial performance in the coming fiscal year.
Anil Ambani’s Reliance Power has made a remarkable turnaround, becoming debt-free on a standalone basis. After settling debts with banks such as ICICI, Axis, and DBS, the company has erased its financial burden of approximately Rs 800 crore. This has boosted the company’s shares, which were trading at a low of Rs 1.13 in 2020 and have now rebounded to over Rs 26.15. With an equity base of Rs 4016 crore and an operating capacity of 5900 MW, Reliance Power is once again attracting the attention of investors.
