Tue Sep 24 11:51:29 UTC 2024: ## Reliance Power Shares Surge 5% After Preferential Issue Announcement

**Mumbai, India (September 24, 2024):** Reliance Power shares soared 5% to hit an upper circuit of Rs 40.05 on Tuesday morning following the company’s announcement of a preferential issue of 46.2 crore equity shares valued at Rs 1,524.60 crore.

The shares will be issued at a price of Rs 33 per share, representing a 14% discount compared to Monday’s closing price of Rs 38.16. The company’s market capitalization, as of September 23, 2024, was Rs 15,328.76 crore.

Reliance Power shares recorded a 52-week high of Rs 38.16 and a 52-week low of Rs 15.53. Trading volume on the Bombay Stock Exchange (BSE) was 3,507,727 shares on September 23, 2024.

This news follows the company’s announcement of a preferential issue of shares, a move that is expected to strengthen its financial position and fuel future growth.

**Disclaimer:** This news article is AI generated and based on market data. Readers are advised to consult with financial experts before making any investment decisions.

Read More