Reliance Power Share Price:  Shares of Anil Ambani-led Reliance Power, and Reliance Infrastructure surged up to 5 per cent in intraday deals on Tuesday. The rally in stocks was led by the announcement of a restructuring of the board of directors of the respective companies. Reliance Power's Share Price soared 5 per cent to hit the upper circuit at Rs 35.91 per share after multiple days of the debacle, meanwhile, Reliance Infrastructure's share price jumped 4.4 per cent to trade at Rs 265.70 per share in mid-day trade.

At around 1:20 pm, Relaince Power's shares were trading at Rs 35.91, up 5 per cent on BSE, while Reliance Infrastructure was at the level of Rs 263.40, up 3.63 per cent.

Reliance Power, Reliance Infrastructure Reconstitute Boards

Anil Ambani-led Reliance group firms Reliance Power and Reliance Infrastructure have reorganised their boards and appointed four senior executives as directors by the company's Vision 2030 growth strategy, the company said in an exchange filing on Monday.

At Reliance Power, Ashok Pal, the current chief financial officer, has been elevated to the position of executive director, while Sachin Mohapatra, who is full-time director and CEO of Sasan Power Ltd, and Harmanjit Singh Nagi, who is president, of corporate development, have been rewarded with responsibilities of additional directors. Furthermore, Reliance Infrastructure has appointed Parth Sharma, who was president of group corporate development, as an additional director.

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The company said the board reorganisation aims to build a dynamic, young leadership team capable of addressing emerging challenges and adopting new technologies.

Regulatory action

The board reconstitution comes at a time when Reliance Power is experiencing regulatory turmoil. In the first leg of November, the Solar Energy Corporation of India Ltd (SECI) prohibited Reliance Power from participating in its clean energy project tenders for three years after the solar body discovered that one of its units had submitted false support of a foreign bank guarantee.

Following this development, Reliance Power shares fell by up to 14% in the last five trading sessions.

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