Reliance Power Stock Surges After Positive Developments

Reliance Power shares rose over 3% following the settlement of a loan default by its subsidiary, Samalkot Power, curing its default status as a guarantor. Additionally, the Solar Energy Corporation of India (SECI) withdrew its restriction on the company from participating in renewable energy tenders, except for a specific subsidiary. These factors boosted investor sentiment, adding to the stock’s strong performance, with an 85% year-to-date return.