Miracle of Anil Ambani’s company
There is good news for Anil Ambani who is in trouble. Anil Ambani’s Reliance Power has got a major order. After the company received this order, Reliance Power shares hit the upper circuit today. In fact, Anil Ambani’s Reliance Power has got the contract for 500 MW battery energy storage. The company got this order through auction. This auction was organized by Solar Energy Corporation of India (SECI).
Under this order, the 1,0000 MW Singer Battery is part of Reliance Power’s initiative to scale up energy storage. This auction was held on September 11. The project was awarded on a build, own and operate (BOO) model for demand-driven use through a tariff-based competitive bidding process.
Order received through auction
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Reliance Power has submitted a tariff bid of Rs 3,819 lakh/MW/month for this contract. The company spokesperson said that Reliance Power has procured 500 MWh of this capacity, which will be the delivery point for the 400 KV renewable energy project at Fatehgarh, PS, Rajasthan. Apart from Reliance Power, many companies participated in this auction, but Anil Ambani won.
Stocks become rockets
Following the news of the order receipt, there was a sharp rise in the shares of Reliance Power on Monday. There was a time when this stock also hit the upper circuit. On Monday, the shares of Reliance Power opened at Rs 30.30 and after receiving the order, it rose to a high of Rs 31.32. However, the shares of Reliance Power closed at Rs 30.72 in the trading session. Till closing, this stock saw a sharp rise of 2.98 per cent. The 52-week high price of Reliance Power is Rs 38.11, while its 52-week low price is Rs 15.55.
Investors got rich
If we talk about the last 5 years, this stock has made investors rich. 5 years ago, the share price of Reliance Power was just Rs 2.90, but now it has increased to Rs 30.72. That means, during this period, this stock has given a whopping 959.31 percent return to investors. If an investor had invested Rs 1 lakh 5 years ago, today this amount would have become Rs 10,59,000.
