Reliance Power shares fell as much as 1.6% on Thursday to Rs 65 on the BSE after the companys board on Wednesday approved a fundraising plan worth Rs 6,000 crore through Qualified Institutions Placement (QIP) and other modes.
The board also approved issuance of secured/unsecured, redeemable, non-convertible debentures up to Rs 3,000 crore, in one or more tranches, on a private placement basis or otherwise.The Anil Ambani-promoted company aims to raise funds by issuing equity shares or equity-linked instruments to qualified institutional buyers (QIBs).The company's board also approved the issuance of secured/unsecured, redeemable, non-convertible debentures up to Rs 3,000 crore, in one or more tranches, on a private placement basis or otherwise.The stock has been a multibagger, rallying 130% over the past year.
It has significantly outperformed headline indices BSE Sensex and Nifty whose returns in the same period stand at 2.5% and 2.4%, respectively.
In 2025, so far, the stock has yielded 48% return.Reliance Power shares are currently trading above their 50-day and 200-day simple moving averages (SMAs) of Rs 59.1 and Rs 45.3, respectively, according to Trendlyne data.
However, the rally has not come without its share of volatility as the stock has traded at a high beta of 1.1.Live Events | QIP March: SBI kicks off Rs 25,000 crore share sale to boost capital baseReliance Power reported a consolidated net profit of Rs 126 crore in the quarter ended March 31, 2025, due to lower expenses.
The company posted a loss of Rs 397.56 crore in the quarter ended on March 31, 2024, a regulatory filing showed.
Total income dipped to Rs 2,066 crore in Q4FY25 from Rs 2,193.85 crore in the same period a year ago.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own.
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