Sun Oct 06 20:01:47 UTC 2024: ## Anil Ambani’s Reliance Group Signs Major Deal in Bhutan, Boosting Stock Prices
**Thimphu, Bhutan/Mumbai, India:** Anil Ambani’s Reliance Group has entered the Bhutanese market with a significant business deal, marking a major step in the group’s focus on debt repayment and business expansion. The deal involves setting up a 1,270 megawatt solar and hydropower project, including the construction of Bhutan’s largest 500 megawatt solar plant.
To facilitate this venture, Reliance Enterprises, a newly established company under Anil Ambani’s leadership, has forged a strategic partnership with Druk Holding & Investments Limited (DHI), the investment arm of the Bhutanese government. The collaboration also includes the development of the 770 megawatt Chamkharchhu-1 hydropower project by Reliance Power and DHI.
The news of the Bhutan deal triggered a positive response in the stock market, with Reliance Power shares hitting an upper circuit for the tenth consecutive day and Reliance Infra shares recording a robust surge of over 3%.
Both companies have witnessed a remarkable turnaround in their share prices after a significant decline in recent years. Reliance Power stock has soared over 23% in the past five trading days, reaching an all-time high of ₹51.09 on Tuesday. Similarly, Reliance Infra shares have climbed by an impressive 67% in the last month, closing at ₹331 on Tuesday.
The Bhutan project is expected to significantly contribute to Reliance Group’s growth strategy, bolstering its financial position and paving the way for further expansion in the renewable energy sector. However, investors are advised to consult with their financial advisors before making any investment decisions based on market speculation.
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