Even though Anil Ambani is receiving notices worth crores of rupees from SEBI, he is continuously making his companies debt free. Now he has made his another company debt free. Actually this company is a subsidiary of Reliance Power. On which there was a loan of Rs 485 crore. By paying it on Wednesday the company became debt free. If experts are to be believed, after this news there may be a rise in the shares of Reliance Power on Thursday. Let us also tell you which company of Anil Ambani has become debt free.
This company became debt free
Rosa Power Supply Company, a unit of Reliance Power, has repaid another loan of Rs 485 crore to Singapore-based lender Verde Partners. Rosa Power has now become a debt-free company. The company said in a statement that with this, Rosa Power has achieved zero-debt status. Also, it has completely settled its outstanding loan by paying Rs 1,318 crore before the scheduled time. Rosa Power had paid Rs 833 crore to Verde Partners in September. Roja Power operates a 1,200 MW coal-based thermal power plant in Roja village near Shahjahanpur, Uttar Pradesh.
Reliance Power shares may rise
After this news, we may see a rise in the shares of Reliance Power. If we talk about Wednesday, the company’s shares had hit an upper circuit of 5 percent on BSE. After which the company’s shares closed at Rs 43.47. However, the company’s shares had opened at Rs 41.62. During the trading session, it also reached the day’s lower level at Rs 41.20. However, the company’s shares had reached its 52-week high of Rs 54.25. But currently it is 20 percent below its 52-week high.
Gave 126 percent return in one year
However, Reliance Power shares have given huge returns to investors in the last one year. According to BSE data, the company’s shares have given a return of about 126 percent in the last one year. At the same time, a growth of 69.34 percent has been seen in the last 6 months. In the current year, Reliance Power shares have earned investors 81.50 percent. There has been a decline of 10.24 percent in the company’s shares in a month. According to experts, Reliance Power shares may see a rise in the coming days.
