Reliance Infrastructure shares in news today ahead of meeting to raise funds 

Shares of Reliance Infrastructure are in news today after the Anil Ambani-led firm said its board members will consider raising long-term resources from domestic and global markets via equity on September 19.

Reliance Infrastructure shares ended 1.5% higher at Rs 215.75 on Monday. Market cap of the firm stood at Rs 8706.96 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 53, 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.

"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.