New Delhi: Anil Ambani's Reliance Infrastructure shares rose sharply on Tuesday. It made a high of Rs 238 during the day's trading and finally closed at Rs 235.44 with a jump of 8.97 percent. The rise in Reliance Infrastructure shares came after the company announced a board meeting to raise long-term funds.

This meeting will be held on Thursday (September 19). However, the company has not yet disclosed how much funds it will raise and through what methods.

Financial Performance of Reliance Infrastructure

Reliance Infrastructure is now performing quite well on the financial front. It reduced its loss by 65.2 per cent year-on-year to Rs 233.74 crore in the quarter ended June 30, 2024. The loss was Rs 672.86 crore a year ago. The company's total income stood at Rs 7,256.21 crore in this quarter, as against Rs 5,645.32 crore in the same period a year ago. As of March 31, the company's engineering and constructing (E&C) division had a total order book of Rs 1,974.64 crore.

What does Reliance Infrastructure do?

Reliance Infrastructure is part of the Anil Ambani-led Reliance Group. The company provides engineering and construction services for building power, roads, metro rail and other infrastructure. The company is also engaged in the implementation, operation and maintenance of several projects in the defense and infrastructure sectors. It has also executed the Mumbai Metro Line One project. Its presence also extends to energy businesses.

Status of Reliance Infrastructure shares

Reliance Infrastructure shares have been fluctuating for quite some time. The company has given a negative return of 8 percent in the last one year. However, investors have received a return of about 33 percent from the company in the last one year. The market cap of Reliance Infrastructure is Rs 93 billion. Its 52-week high level is Rs 308, while on the downside it has come down to Rs 144.