Tue Sep 24 04:11:45 UTC 2024: ## Reliance Power Shares Surge on Preferential Issue Announcement

**Mumbai, India – September 24, 2024** – Reliance Power shares soared by 5% on Tuesday morning, hitting an upper circuit at Rs 40.05, following the company’s announcement of a preferential issue of 46.2 crore equity shares worth Rs 1,524.60 crore. This move has injected renewed optimism into the company’s stock performance.

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 currently stands at Rs 15328.76 crore.

Reliance Power shares had previously reached 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) on September 23rd was 3,507,727 shares.

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

Read More