Reliance Infrastructure shares rise 8% as company makes disclosure on debt
Reliance Infrastructure shares rose 8% to Rs 254.40 on Wednesday. Market cap of the firm stood at Rs 9859 crore.
- Sep 18, 2024,
- Updated Sep 18, 2024 11:57 AM IST
Shares of Reliance Infrastructure rallied 8% in early deals on Wednesday after the Anil Ambani-led firm said it has reduced its standalone external debt from Rs 3,831 crore to Rs 475 crore. Consequently, the net worth of the company will stand at Rs 9,041 crore. Reliance Infrastructure shares rose 8% to Rs 254.40 on Wednesday. Market cap of the firm stood at Rs 9859 crore. Reliance Infrastructure shares have a one-year beta of 1.4, indicating high volatility during the period.
In terms of technicals, the relative strength index (RSI) of Reliance Infrastructure stands at 63.4, signaling it's trading neither in the overbought nor in the oversold zone. Reliance Infrastructure shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
"Invent Assets Securitisation and Reconstruction Private Limited, a lender to the company, has novated certain charged securities to recover its dues. As a result, Invent ARC's entire fund based outstanding amount has been reduced to zero. Additionally, Reliance Infra has cleared its funded outstanding dues to Life Insurance Corporation of India, Edelweiss Asset Reconstruction Company Limited, ICICI Bank, Union Bank, and other lenders," said Reliance Infra in a communication to bourses.
On Tuesday, the company said its board members will consider raising long-term resources from domestic and global markets via equity on September 19.
"We wish to inform you that a meeting of the Board of Directors of the Company has been convened on Thursday, September 19, 2024, inter alia, to consider and approve raising of long term resources from domestic and/or global markets, inter alia, by issue of equity shares/ equity linked securities/ warrants convertible into equity shares, by way of preferential issue and/ or qualified institutional placement and/or rights issue or any other method including determination of issue price, if any and seeking members’ and other approval(s), as the Board may deem appropriate," said the firm in a communication to bourses.
Shares of Reliance Infrastructure rallied 8% in early deals on Wednesday after the Anil Ambani-led firm said it has reduced its standalone external debt from Rs 3,831 crore to Rs 475 crore. Consequently, the net worth of the company will stand at Rs 9,041 crore. Reliance Infrastructure shares rose 8% to Rs 254.40 on Wednesday. Market cap of the firm stood at Rs 9859 crore. Reliance Infrastructure shares have a one-year beta of 1.4, indicating high volatility during the period.
In terms of technicals, the relative strength index (RSI) of Reliance Infrastructure stands at 63.4, signaling it's trading neither in the overbought nor in the oversold zone. Reliance Infrastructure shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
"Invent Assets Securitisation and Reconstruction Private Limited, a lender to the company, has novated certain charged securities to recover its dues. As a result, Invent ARC's entire fund based outstanding amount has been reduced to zero. Additionally, Reliance Infra has cleared its funded outstanding dues to Life Insurance Corporation of India, Edelweiss Asset Reconstruction Company Limited, ICICI Bank, Union Bank, and other lenders," said Reliance Infra in a communication to bourses.
On Tuesday, the company said its board members will consider raising long-term resources from domestic and global markets via equity on September 19.
"We wish to inform you that a meeting of the Board of Directors of the Company has been convened on Thursday, September 19, 2024, inter alia, to consider and approve raising of long term resources from domestic and/or global markets, inter alia, by issue of equity shares/ equity linked securities/ warrants convertible into equity shares, by way of preferential issue and/ or qualified institutional placement and/or rights issue or any other method including determination of issue price, if any and seeking members’ and other approval(s), as the Board may deem appropriate," said the firm in a communication to bourses.