Stock Market Today: Reliance Infrastructure share price gained up to 7.5% in morning trades on Thursday and was very close to 1 year (52-week) high.
The Reliance Infrastructure share price has been buzzing with news flow as it has reduced standalone external debt from ₹3,831 Crore to ₹475 Crore
Reliance Infrastructure share price that opened at ₹294.50 on Thursday in the morning trades on the BSE, slightly higher than previous close of ₹282.75, gained further to intraday highs of ₹304. Reliance Infrastructure share price price is trading very close to the 1-year (52-week high) of ₹308 seen in April 2024.
Reliance Infrastructure Ltd share price has gained more than 32% in last 5 trading sessions on various developments that is helping it reduce debt significantly.
Reliance Infrastructure in its release on Wednesday said that it has reduced its standalone external Debt from ₹3,831 crore to ₹475 Crore. Consequently, the net worth of the Company will stand at ₹9,041 crore.
Reliance Infrastructure on Wednesday had announced that it has settled and paid its entire obligations with Edelweiss Asset Reconstruction Company Limited (Edelweiss) with respect to the Non Convertible Debentures issued by the Company, in consideration of an amount of Rs. 235 crore.
As a result, Invent ARC's entire fund based outstanding amount has been reduced to Zero.
Additionally, Reliance Infra has cleared its funded outstanding dues to Life Insurance Corporation of India, Edelweiss Asset Reconstruction Company Limited, ICICI Bank, Union Bank, and other lenders.
In other developments announced recently by the company, Reliance Infrastructure Ltd has reached an agreement with Adani Electricity Mumbai Limited (AEML) and Adani Energy Solutions Limited (AESL) (Earlier known as Adani Transmission Limited).
The agreement is towards Settlement of disputes and withdrawal of arbitration claims against each other as mutually agreed on September 17, 2024.
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