Anil Ambani is in luck, after getting relief from High Court!
This week started well for mukesh Ambani's brother Anil Ambani. After the ban and public notice of Solar Energy Corporation of india Limited (SECI), now his company has got relief from delhi High Court. In fact, on tuesday, delhi high court has stayed the SECI notice received by Anil Ambani's company reliance Power. Since this news, reliance Power shares are making a splash in the stock market.
What was the whole matter?In fact, in the beginning of november, reliance Power had informed that it had received a notice from Solar Energy Corporation of india Limited (SECI), in which the company has been directed that the company and its subsidiaries have been banned for 3 years from participating in all future tenders issued by the organization.
The company had reached the High Court
After the ban and public notice of Solar Energy Corporation of india Limited, reliance Power reached delhi high court and challenged the SECI notice. Now on tuesday i.e. 26 november 2024, the latest update on the matter came. reliance Power said on tuesday that the high court has stayed the notice. After getting relief from the court, the shares of R Power are seeing a continuous rise. On tuesday also, there was an upper circuit of 5 percent in it and today i.e. on wednesday also, there is an upper circuit of 5 percent in it.
Will the price reach Rs 53 again?
On october 3, 2024, the price of one share of reliance Power reached 53.64 paise. After this it started falling and came down to Rs 34.13. However, now from tuesday onwards, this stock is seeing a rise again. Talking about the fundamentals of reliance Power, its market cap is 15,377. At the same time, the ROCE of the stock is 1.43 percent. Whereas, the ROE is minus 17.5 percent. The data-face value of the share is Rs 10 and the book value is Rs 35.8.