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Reliance Infrastructure, a prominent player in the Indian infrastructure sector, experienced a significant surge in its share price on September 17, 2024. The company's stock closed the trading session at Rs 235.44, marking a 9% increase from its previous closing price of Rs 215.75. This positive market performance was driven by the anticipation of a major financial maneuver by the company. Reliance Infrastructure's board of directors is scheduled to convene on September 19th to deliberate on a proposed preferential issue of shares. This move is intended to raise capital for the company, potentially fueling its future growth and expansion plans.
The upcoming board meeting has generated considerable interest among investors, as the potential share issue is expected to significantly impact the company's financial position and future prospects. The market reacted favorably to the news, with the share price closing at its highest point in the day, hitting Rs 223.15 during intraday trading. The intraday low was recorded at Rs 212.20, reflecting the market's cautious optimism as investors awaited further details about the share issue.
The company's current market capitalization stands at Rs 8546.53 crore as of September 16th, 2024. In the past year, Reliance Infrastructure shares have witnessed a substantial range of fluctuation, reaching a high of Rs 308.0 and a low of Rs 143.7. The trading volume on the Bombay Stock Exchange (BSE) on September 16th, 2024, amounted to 549,302 shares, indicating a significant level of investor activity surrounding the company's stock.