Shares of Anil Ambani-owned Reliance Power have seen a rocketing rise. Shares of Reliance Power hit an upper circuit of 5% to Rs 31.32 on Monday. The company has received a big order. Reliance Power has received a contract for 500 MW/1000 MWh Battery Energy Storage System (BESS). The company has received this order from Solar Energy Corporation of India (SECI). Reliance Power has received this contract through a competitive auction.

Company's shares made Rs 1 lakh into more than 27 lakhs
Shares of Anil Ambani's company Reliance Power have seen a sharp rise of 2671 percent in the last 4 and a half years. Shares of Reliance Power were at Rs 1.13 on 27 March 2020. The company's shares have reached Rs 31.32 on 16 September 2024. If a person had invested Rs 1 lakh in Reliance Power shares on 27 March 2020 and maintained his investment, then the value of shares purchased for Rs 1 lakh at present would have been Rs 27.71 lakh.

Details of the order received by Reliance Power
This contract awarded to Reliance Power is part of Solar Energy Corporation of India's ambitious initiative to develop 1000 MW/2000 MWh standalone battery energy storage systems. In this project, Reliance Power will manage the system setup as well as land identification, installation, obtaining necessary approvals and interconnection with the Interstate Transmission System (ISTS). Reliance Power has won this bid at a tariff of Rs 3.8199 lakh per megawatt (MW) per month. The auction was held on September 11.

Shares have jumped over 60% in a year
Reliance Power shares have gained more than 60 percent in the last one year. The shares of this Anil Ambani-owned company were at Rs 19.07 on 18 September 2023. Reliance Power shares have reached Rs 31.32 on 16 September 2024. At the same time, the company's shares have seen a jump of 35 percent in the last 6 months. The 52-week high level of Reliance Power shares is Rs 38.07. At the same time, the 52-week low level of the company's shares is Rs 15.53.