Latest news with #AnilAmbani-owned
Mint
9 hours ago
- Business
- Mint
Anil Ambani-owned Reliance Infrastructure share price dips 5% after THIS reply on 155mm artillery shells
Anil Ambani-owned Reliance Infrastructure's stock took a breather on Thursday after a sharp 11% gain in the last trading session, with the scrip declining 5% in intra-day deals today. Apart from profit taking following a sharp rally in recent months, Reliance Infra share price also came under pressure following its response to the exchange on the development of next-gen 155mm artillery shells by the company. The stock exchange BSE had sought a clarification from Reliance Infrastructure on Wednesday about an article in Business Today, titled "Reliance Infra becomes first private Indian firm to develop next-gen 155mm artillery shells". In its response, the Anil Ambani-owned group stock said that it has a number of defence SPVs that are engaged in various businesses, including one SPV which is in the process of developing ammunition with the DRDO project of the Government of India. "The activities are routine in nature as per the objectives of the company. There were no negotiations as per our knowledge and information," the company said. Furthermore, it added that the development of ammunition by a subsidiary company is in the normal course of business and is not a disclosable event. Reliance Infra also said that as on date, there was no order from the Indian Army for ammunition under development. Meanwhile, in a major relief for Reliance Infra, National Company Law Appellate Tribunal (NCLAT) on Wednesday stayed insolvency proceedings against the company that were initiated by IDBI Trusteeship Services Ltd over an alleged default of ₹ 88 crore. The ADAG stock Reliance Infrastructure declined as much as 4.8% in intra-day trade on Thursday. It hit the day's low of ₹ 362. However, this fall is a small dent in the massive rally the Reliance Infrastructure share price has seen recently. The BSE Smallcap stock is up 17% in a week and 68% in three months. In 2025 so far, Reliance Infra share has added 15.60% while it has emerged as a multibagger stock over a year, rallying 146%. As of 3.20 pm, Reliance Infrastructure share price was at ₹ 373.80, down 1.75%. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
a day ago
- Business
- Economic Times
Anil Ambani's Reliance Infra says NCLAT suspends NCLT order admitting co into insolvency; shares edge up over 10%
The National Company Law Appellate Tribunal (NCLAT) has suspended the National Company Law Tribunal's (NCLT) order from May 30, 2025, which had initiated the Corporate Insolvency Resolution Process (CIRP) for Reliance Infrastructure. Following this suspension, shares of the Anil Ambani-owned company surged, trading at Rs 378.35 apiece on the BSE, marking a 10.64 per cent increase. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads In a major relief to Reliance Infrastructure , the National Company Law Appellate Tribunal ( NCLAT ) on Wednesday suspended the National Company Law Tribunal's ( NCLT ) order that had admitted the company into the Corporate Insolvency Resolution Process (CIRP).Shares of the Anil Ambani-owned company skyrocketed, trading at Rs 378.35 apiece on the BSE up 10.64 per cent as 3.10 PM on a regulatory filing to the stock exchanges, the company said, 'In the appeal filed, the Hon'ble National Company Law Appellate Tribunal, New Delhi (NCLAT), today has suspended the Order dated May 30, 2025 passed by National Company Law Tribunal, Mumbai in case no. C.P. (IB)/624(MB)2022, admitting the Company into Corporate Insolvency Resolution Process.'The NCLT had earlier admitted the Anil Ambani-promoted company under the corporate insolvency resolution process (CIRP) following a plea filed by IDBI Trusteeship Services dispute began over an Energy Purchase Agreement (EPA) signed in 2011 between Reliance Infrastructure and Dhursar Solar Power Pvt Ltd (DSPPL). Under the agreement, Reliance Infra committed to purchasing all power generated by DSPPL's solar power secure payments under the EPA, DSPPL later entered into a direct agreement in 2012 with IDBI Trusteeship Services Ltd, designating the trustee company as the holder of DSPPL's claims. Between 2017 and 2018, DSPPL supplied energy and issued 10 invoices to Reliance Infra. After non-payment of dues, IDBI Trusteeship issued a demand notice in April 2022 under the Insolvency and Bankruptcy Code (IBC), seeking recovery of over Rs 88 on this claim, the NCLT admitted the company into CIRP. In its May 30 order, the division bench comprising judicial member KR Saji Kumar and technical member Sanjiv Dutt said, 'We come to a definite conclusion that the operational creditor (IDBI Trusteeship) has become successful in establishing operational debt due and payable against the CD (corporate debtor) and that the CD (Reliance Infrastructure) is in default.'However, Reliance Infrastructure argued that the dues had already been paid in full, Rs 92.68 crore to DSPPL, and that the petition itself was time-barred since the last invoice dated back to September 2018. It also contended that a pre-existing dispute with DSPPL made the application a statement to ET, a Reliance Infrastructure spokesperson said, 'The company has made full payment of Rs 92.68 crore to Dhursar Solar Power Private Limited, towards the claim of tariff as per the energy purchase agreement with the company. Accordingly, the company preferred an appeal before the Hon'ble NCLAT and will seek withdrawal of the order dated May 30, 2025, passed by NCLT Mumbai in case no. C.P. (IB) 642/MB/2022, for corporate insolvency resolution process and appointment of the interim resolution professional.'
Time of India
a day ago
- Business
- Time of India
Anil Ambani's Reliance Infra says NCLAT suspends NCLT order admitting co into insolvency; shares edge up over 10%
In a major relief to Reliance Infrastructure , the National Company Law Appellate Tribunal ( NCLAT ) on Wednesday suspended the National Company Law Tribunal's ( NCLT ) order that had admitted the company into the Corporate Insolvency Resolution Process (CIRP). Shares of the Anil Ambani-owned company skyrocketed, trading at Rs 378.35 apiece on the BSE up 10.64 per cent as 3.10 PM on Wednesday. In a regulatory filing to the stock exchanges, the company said, 'In the appeal filed, the Hon'ble National Company Law Appellate Tribunal, New Delhi (NCLAT), today has suspended the Order dated May 30, 2025 passed by National Company Law Tribunal, Mumbai in case no. C.P. (IB)/624(MB)2022, admitting the Company into Corporate Insolvency Resolution Process.' Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks Undo (More to come)
Mint
23-05-2025
- Business
- Mint
Reliance Power share price skyrockets 18% as bulls spurt trade volumes, biggest intraday jump since January 2024
Reliance Power share price in focus: Reliance Power's share price surged 18.5% in intraday trading on Friday, May 23, reaching a six-month high of ₹ 52.82 apiece on the back of a sharp surge in trading volumes. The rally also marked the stock's biggest intraday jump since January 2024. A total of 232.3 million shares changed hands on both the NSE and BSE as of 1:00 p.m. today, marking a four-fold increase over the stock's average weekly volume of 54 million shares. The stock has been on investors' radar in recent weeks due to multiple positive developments that have helped sustain the momentum and push the stock to multi-month highs. On May 20, Anil Ambani-owned Reliance Power executed a preferential allotment of equity shares aggregating ₹ 43.89 crore to two entities—Reliance Infrastructure Limited and Basera Home Finance Private Limited. According to an exchange filing, the company allotted a total of 1.33 crore fully paid-up equity shares at ₹ 33 per share (inclusive of a ₹ 23 premium). The shares were issued under the SEBI (ICDR) Regulations, following the exercise of rights attached to previously issued warrants. In addition, Reliance Power recently announced a strategic international venture with Druk Holding and Investments Limited (DHI), the investment arm of the Royal Government of Bhutan. The two companies will jointly develop Bhutan's largest solar power project, with a planned installed capacity of 500 MW. In October 2024, Reliance Enterprises—jointly promoted by Reliance Power Limited and Reliance Infrastructure Limited—initiated a strategic partnership with DHI to develop solar and hydropower projects in Bhutan. The ₹ 2,000 crore project will be developed under a 50:50 joint venture on a Build-Own-Operate (BOO) basis. The company stated that the agreement—marked as the largest private sector FDI in Bhutan's solar energy sector to date—was formalized through a commercial term sheet with Green Digital Private Limited (GDL), a DHI-owned entity. Reliance Power said its total clean energy pipeline stands at 2.5 GWp of solar and over 2.5 GWh of BESS, making it India's largest player in the integrated solar + BESS segment. The turnaround in financial performance during the March quarter has also fueled renewed investor interest in the stock on Dalal Street. For the quarter ended March, the company posted a consolidated net profit of ₹ 126 crore, a significant recovery from a loss of ₹ 397.56 crore in the same quarter last year, driven by lower finance costs and reduced operating expenses. Total operating expenses fell from ₹ 3,575 crore in Q4FY24 to ₹ 2,108 crore in Q4FY25. However, revenue from operations declined to ₹ 2,066 crore from ₹ 2,193.85 crore year-on-year, primarily due to lower realizations. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Mint
20-05-2025
- Business
- Mint
Why will Anil Ambani-owned Reliance Power shares be in focus tomorrow? EXPLAINED
Shares of Anil Ambani-led Reliance Power are likely to be in the spotlight on Wednesday, May 21, following key corporate developments including a preferential share allotment worth ₹ 43.89 crore and a landmark renewable energy partnership in Bhutan. Anil Ambani-owned Reliance Power has executed a preferential allotment of equity shares aggregating ₹ 43.89 crore to two entities—Reliance Infrastructure Limited and Basera Home Finance Private Limited. According to an exchange filing, the company allotted a total of 1.33 crore fully paid-up equity shares at ₹ 33 per share (inclusive of ₹ 23 premium). The shares were issued under the SEBI (ICDR) Regulations, following the exercise of rights attached to previously issued warrants. Out of the total allotment, 33 lakh shares were allotted to Reliance Infrastructure, while 1 crore shares were issued to Basera Home Finance. Notably, the allotment price of ₹ 33 per share reflects a steep 26 percent discount to Tuesday's closing price of ₹ 44.73, a move likely to draw investor scrutiny in the trading session ahead. Adding to the buzz, Reliance Power recently announced a strategic international venture with Druk Holding and Investments Limited (DHI), the investment arm of the Royal Government of Bhutan. The two companies will jointly develop Bhutan's largest solar power project, with a planned installed capacity of 500 MW. The ₹ 2,000 crore project will be developed under a 50:50 joint venture on a Build-Own-Operate (BOO) basis. The agreement, marked as the largest private sector FDI in Bhutan's solar energy segment to date, was formalized through a commercial term sheet with Green Digital Private Limited (GDL), a DHI-owned entity. According to Reliance Power, the initiative aligns with its clean energy strategy and underscores its position as India's largest player in the integrated Solar plus Battery Energy Storage System (BESS) category. The company's clean energy pipeline currently stands at 2.5 GWp of solar capacity and over 2.5 GWh of BESS capacity. 'The landmark solar investment in Bhutan underscores Reliance Group's strategic focus on expanding its renewable energy portfolio while reinforcing its long-term commitment to strengthening India-Bhutan economic cooperation,' the company said. In addition to these developments, Reliance Power recently reported a notable turnaround in its financials for Q4FY25. The company posted a consolidated net profit of ₹ 126 crore for the January–March quarter, a significant recovery from a loss of ₹ 397.56 crore during the same quarter the previous year. However, total income declined to ₹ 2,066 crore from ₹ 2,193.85 crore YoY, primarily due to lower revenues. Shares of Reliance Power ended 2 percent lower at ₹ 44.73 on Tuesday, but have gained 12 percent in May so far, bouncing back from a 7 percent dip in April. Prior to that, the stock corrected 29 percent in March, 17 percent in February, and 6 percent in January. Despite recent volatility, the stock has soared 75 percent over the past year and is currently trading 17.5 percent below its 52-week high of ₹ 54.25 hit in October 2024. However, it remains up 92 percent from its 52-week low of ₹ 23.26 recorded in June 2024. Remarkably, Reliance Power has delivered multibagger returns of over 2,480 percent in the last five years, reaffirming its position as one of the best-performing Anil Ambani Group stocks over the long term. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
