The stock of Reliance Power, the company of debt-ridden industrialist Anil Ambani, went into upper circuit for the fourth consecutive day today. The company's board is going to meet today in which the plan to raise money may get approved. As soon as the market opened today, the company's stock went into upper circuit. It opened with a rise of 5 percent at Rs 38.16 on BSE, which is its highest level in 52 weeks. In the last session, it closed at Rs 36.35. In this way, it has increased by 20 percent in the last four days. With this rise, the market cap of the company has reached Rs 15,328.76 crore.

The company told the stock market exchanges that its board is going to meet on September 23 in which the proposal to raise funds will be considered. Reliance Power plans to raise funds from domestic and global markets. Anil Ambani's companies Reliance Infrastructure and Reliance Power have recently reduced their debt rapidly. Shares of Reliance Power have risen 50 percent in the last six months and about 100 percent in the last one year. It has given a return of about 175 percent in the last three years and more than 1150 percent in five years.

obstacle overcome

Reliance Power said on Wednesday that it has paid the entire liability of Rs 3,872 crore as guarantor for its subsidiary Vidarbha Industries Power. Vidarbha Industries Power has a 600 MW power plant in Butibori, Nagpur. Adani Group has its eyes on this power plant. This plant plays an important role in supplying electricity to Mumbai. Now with the repayment of the debt by Reliance Power, a major hurdle in this deal has been removed.