Shares of Reliance Power, led by Anil Ambani, have seen a sharp decline, hitting the 5% lower circuit for the fourth consecutive session. Currently priced at Rs 45.98, the stock is down 16% from its recent 52-week high of Rs 53.64, which was reached just last week.
This drop comes after a surge of over 60% in the past month, majorly by investor excitement over the company’s announcement that it had become debt-free. Though share price is falling now, but it is likely that Anil Ambani’s Reliance Power shares would bounce back soon.
Reliance Power Share Price Performance
Reliance Power shares, owned by Anil Ambani, have been on a downward trend, hitting the 5% lower circuit for the fourth consecutive session. Currently trading at Rs 45.98, the stock is 16% below its recent 52-week high of Rs 53.64, which it reached last week. The decline follows a period of profit booking by investors after a sharp rally.
Reliance Power shares are currently trading at Rs 45.98…
