Good news is coming one after another for Anil Ambani. In fact, Anil Ambani's company Reliance Power said on Friday that its subsidiary Samalkot Power Ltd has fully repaid the outstanding interest of $1.548 million on a term loan with the Export-Import Bank of the United States (EXIM Bank). Along with this, Reliance Power said that after this repayment by Samalkot Power, the contingent liability of Reliance Power as a guarantor for this loan has now ended.

Reliance Power is booming

The stock of Anil Ambani's power company Reliance Power is continuously rising. On Thursday, this stock went into upper circuit as soon as it reached Rs 43.14. On Friday also, it saw a rise of 3.27 percent. In the last 5 days, this stock has registered a rise of more than 18%.

What is the reason for the rise?

This surge in the shares of Reliance Power (R Power) has come after the Solar Energy Corporation of India (SECI) lifted the ban on the company from participating in the tender for solar projects. Actually, SECI has lifted the ban on Reliance Power, which has increased the opportunities for the company in solar projects. Let us tell you, on Tuesday, 3 December, the company informed about the removal of this ban in the regulatory filing. After this, a positive sentiment was created towards the company in the stock market and the stock hit an upper circuit for two consecutive days. Apart from this, due to this repayment made by Samalkot Power, this stock may also see a rise on Monday.

Big jump after a drop

Reliance Power shares had fallen sharply due to the ban on Solar Energy Corporation. On November 19, the stock fell to Rs 33.3, down 38% from its 52-week high of Rs 53.64. However, now that the ban has been lifted, the stock has made a strong recovery. It has registered a jump of more than 30% since November 19.

Reliance Power's multibagger return

In 2024, the stock of Reliance Power has given tremendous returns to investors. So far this year, this stock has increased by more than 85%. Apart from this, it has given a return of 168% in 2 years. Whereas, in 3 years, this stock has given a return of 242%. On the other hand, if we talk about 5 years, then this stock has given a return of more than 1,115% in the last 5 years. Actually, the major reason for the better performance of Reliance Power is that the company has become completely debt-free and is now looking for new projects in the renewable energy sector.