Reliance Infrastructure’s stock price surges by 50% in just one week, offering relief for Anil Ambani after a rough period.
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Shares soared after Reliance Infrastructure raised ₹3,014.4 crore through a preferential issue, boosting the stock to a 52-week high.
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Reliance Infrastructure's stock rose 12% after board approval, closing at ₹316.45 with a market cap of ₹12,622 crore.
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Analysts suggest stock may face resistance at ₹308, but could hit ₹320. A dip below ₹279 may trigger a sharp decline.
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Reliance Infrastructure’s stock has increased by 65% over the last 13 trading sessions. A potential breakout pattern is visible.
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With the Relative Strength Index (RSI) indicating an overbought condition, experts urge caution as profit-taking may occur.
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Proceeds from the preferential issue will be used to expand business operations and strengthen working capital.
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Reliance Infrastructure slashed standalone external debt from ₹3,831 crore to ₹475 crore, improving its financial health.
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Earlier, the company received ₹1,100 crore from promoters and ₹1,910 crore from Mumbai-based investment firms.
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With a net worth of ₹9,041 crore, can Reliance Infrastructure’s recovery be sustained, or is this a temporary gain?
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