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 their 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 waves in the stock market.
what was the whole matter
In fact, in the beginning of the month of November, Reliance Power had said that it has received a notice from Solar Energy Corporation of India Limited (SECI), in which the company has been directed to pay all the taxes issued by the organization to the company and its subsidiaries. Banned for 3 years from participating in future tenders.
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 came on the matter. Reliance Power said on Tuesday that the High Court has put a stay on the notice. After getting relief from the court, there is a continuous rise in the shares of R Power. On Tuesday also there was an upper circuit of 5 percent in it and today i.e. on Wednesday also there was 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 had reached 53.64 paise. After this it started falling and came to Rs 34.13. However, now from Tuesday the stock is again seeing a rise. Talking about the fundamentals of Reliance Power, its market cap is Rs 15,377. Whereas the ROCE of the share is 1.43 percent. Whereas, ROE is minus 17.5 percent. The face value of the share is Rs 10 and the book value is Rs 35.8.
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