Reliance Power / Anil Ambani's company is busy in getting big projects- eyes on UAE, Kuwait and Malaysia

Reliance Power: Anil Ambani, once one of the biggest personalities of the Indian corporate world, is now once again moving towards strengthening his business empire. Reliance Power Limited, the flagship company of his group, now appears to be in a better financial and business position than in the old days. It is clear from the recent activities that the company is once again preparing to strengthen its hold in the energy sector.

Plan of 1500 MW gas based power project

Reliance Power has taken steps towards setting up a new gas based power project of 1500 MW. According to PTI sources, the company is actively participating in international tenders in countries like Kuwait, United Arab Emirates (UAE) and Malaysia for this project. This initiative shows that this company of Anil Ambani is now ready to make its presence felt not only domestically but also in the global energy market.

Acquisition of two important power projects in Bhutan

In another major achievement towards global expansion, Reliance Power has recently acquired two important projects in Bhutan—one a 500 MW solar power project and the other a 770 MW hydropower project. Through these projects, the company will strengthen its asset portfolio and a monetization target of about Rs 2000 crore has also been set.

Positive impact is also visible in the stock market

The impact of these strategic initiatives is also visible in the stock market performance of the company. Even when there was a general downtrend in the market, the shares of Reliance Power showed strength. On June 30, at 02:05 pm, its shares were trading at Rs 69.40 with a gain of 0.58% on the BSE. At the same time, during the day's trading, the company's shares reached an intraday high of Rs 71.70 and an intraday low of Rs 68.55. It is noteworthy that the company's 52-week high has been Rs 76.49 and the lowest level has been Rs 25.76.