INSUBCONTINENT EXCLUSIVE:
Anil Ambani-promoted Reliance Infrastructure's credit rating has been upgraded by three notches by India Ratings and Research which has
years in view of the company's near-zero debt profile , the exchange filing said."This upgrade represents a significant improvement of three
the exchange filing said.Reliance Infrastructure shares today ended the session at Rs 377.45 on the NSE, up by Rs 2.95 or 0.79% over the
Thursday closing price.Reliance Infra shares have been in top form for the last one year, jumping by 97% during this period
In this year so far its returns have been to the tune of 18%, significantly higher than the headline indices Nifty and Sensex
Both Nifty and Sensex have seen an uptick of slightly over 3%.
Live EventsIn the past six months, two of his group companies, Reliance Power
and Reliance Infrastructure, have seen market cap gains of 1.5x and 1.9x, respectively
and Rs 10,000 crore smart munitions contracts
More importantly, the companies are debt-free
Additionally, a Rs 17,600-crore capital raise is underway.Shares of Reliance Infrastructure are trading above their 50-day and 200-day
simple moving averages (SMAs) of Rs 341 and Rs 289, respectively according to Trendlyne data.However, the counter has been quite volatile
with a 1-year beta of 1.7, the Trendlyne data suggested.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts
These do not represent the views of Economic Times)
