Reliance Power Share Price Surges 5% To Hit Upper Circuit For Second Consecutive Day After SECI Withdraws Ban Order

At 9:36 am, the Reliance Power shares were at Rs 43.14 per share up, 4.99 per cent or 2.05 rupees against the previous day's closing price on NSE. On BSE, the stock was at Rs 43.14 per share, up 4.99%. The power sector stock hit the upper circuit on both exchanges.

Reliance Power shares also hit the upper circuit on Wednesday. The power sector stock rose by 4.98 per cent to Rs 41.09 on the NSE from the previous day's close of Rs 39.14.

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SECI Lifts Ban

The Solar Energy Corporation of India (SECI) on Tuesday lifted the ban on Reliance Power and said that it was withdrawing the Anil Ambani-led company from participating in future tenders for public sector solar projects.

However, the governing body said in a statement that the withdrawal of the approval notice would not affect its right to take all actions permitted by law.
Earlier, on November 6, Reliance Power Ltd and Reliance NU Base Ltd were barred from bidding for any tender for three years.

Meanwhile, Reliance Power confirmed this in an exchange filing. The company said that it had received a letter from SECI withdrawing the approval notice. Hence, the Company and its subsidiaries are eligible to participate in all tenders issued by SECI except Reliance NU BESS Limited (formerly known as Maharashtra Energy Generation Limited).

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Disclaimer: This is merely a piece of news about recent developments in the stock. Jagran does not advise investing, please take expert opinion before investing.