Reliance Power sees positive trading day as share jumps to 9%

Anil Ambani, the younger brother of Mukesh Ambani, India’s richest man with a net worth of Rs 954203 crore, is preparing a massive comeback with Reliance Power.

Reliance Power’s trading volume is 48.32% higher than yesterday and the price has increased by 9.62% to ₹31.44 at 11:15 AM. Both volume traded and price are important markers for identifying trends. A positive price movement along with a bigger volume implies a long-term rising tendency, whereas a negative price movement with increasing volume may imply a further decline in prices.

On June 11, shares of Reliance Power, owned by Anil Ambani, reached the upper circuit. After reaching 52-week highs, Anil Ambani’s Reliance Power stock closed at 28.67 per share on the BSE. The increase happened after Reliance Power became debt-free on a standalone basis.

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