New Delhi: Reliance Infrastructure share: Since the beginning of this week, investors have been buying shares of Anil Ambani’s companies. For the last five days, Reliance Infrastructure shares have been witnessing a steady rise. In the same sequence, on Thursday also, Reliance Infrastructure shares registered a rise of about 7.5 percent, after which its price crossed Rs 300. This stock has increased by more than 35 percent in the last five days.
Reliance Infra shares rose 7.5 percent
On Thursday, Reliance Infrastructure shares opened at 294 level with a gap of more than 4 percent from its previous close of 282.73, while after some time the shares touched the figure of Rs 304 and made the highest level of the day, showing a rise of 7.5 percent. Let us tell you that earlier on Wednesday, the shares of Reliance Infra had gained 7 percent, while on Tuesday this stock gained 9 percent. At the same time, the shares of its associate company Reliance Power have also registered a rise of 5 percent today.
Company’s debt reduced by 87 percent
Let us tell you that the company had announced after the market closed on Wednesday that it has made a record reduction in its standalone external debt. It said that its debt amount has come down from Rs 3,831 crore to Rs 475 crore, which shows a reduction of 87 percent. Reliance Infra further said that one of its lenders Invent Assets Securitization and Reconstruction Private Limited (Invent ARC) has renewed some charged securities to recover its dues, so the fund-based dues of Invent ARC have become completely zero.
600 crore OTS with LIC
Reliance Infra also clarified that it has signed agreements with Life Insurance Corporation of India (LIC), Edelweiss Asset Reconstruction Company Limited,ICICI Bank, Union Bank and several other lenders. In addition, Reliance Infra also made a one-time settlement (OTS) with Life Insurance Corporation of India for an amount of Rs 600 crore in settlement of entire obligations in respect of non-convertible debentures (NCDs) issued by the company.
