Tech Desk 
Sep 19, 2024
Reliance Infrastructure Ltd shares kept progressing to elevate for the third straight session on September 18 (Wednesday), as the stock price experienced an exponential boost of 20% to strike its upper price band of INR 282.75 and earned 34.23% during 2024.
However, the company previously claimed that it has diminished its standalone external debt from INR 3,831 crore to INR 475 crore. So, a huge surge in reliance infra share price must be a much-needed good news for the company.
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Reliance stated in a Bombay Stock Exchange: "Reliance Infra announced that Invent Assets Securitisation and Reconstruction Pvt Ltd, a lender to the company, has innovated certain charged securities to recover its dues. 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 Ltd, ICICI Bank, Union Bank, and other lenders. The company's external debt liability is down to Rs 475 crore. Consequently, the net worth of the Company will stand at Rs 9,041 crore." the firm added.
Reliance Infra is currently involved in several innovative Engineering, Procurement and Construction (ECP) services, power distribution in Delhi and engaged in executing, operating, and maintaining multiple projects in infrastructural places including airports, metro, and more. Moreover, it has implemented the Mumbai Metro Line One project.
