Reliance Power Locked In Upper Circuit After Settling DBS Bank Dues
The stock has risen 15.35% in a three-day rally.
![<div class="paragraphs"><p>(Source: Reliance Power website) </p></div>](https://media.assettype.com/bloombergquint%2F2024-03%2F431e07c3-691d-49fb-a1cf-c16548b57320%2FRPower_Home_BigBanner_1.jpg?rect=0%2C0%2C609%2C343&auto=format%2Ccompress&w=200)
Shares of Reliance Power Ltd. were locked in a 5% upper circuit on Friday after it settled its entire obligations with respect to its borrowings from DBS Bank India Ltd.
As a result, its assets of 45-megawatt wind power project are free from encumbrance. The company had signed a debt-settlement agreement with DBS Bank on Jan. 5., according to an exchange filing.
![Reliance Power Locked In Upper Circuit After Settling DBS Bank Dues](https://media.assettype.com/bloombergquint%2F2024-03%2Fb1387737-f2d7-43bf-ab36-41d2cb6d28da%2FRPOWER__1_.png?auto=format%2Ccompress)
On the NSE, the stock opened as much as 4.99% higher at Rs 26.30 apiece, the highest since Feb. 21. It was locked in its upper circuit limit as of 9:36 a.m., compared to a 0.43% decline in the benchmark Nifty 50.
The stock has risen 15.35% in a three-day rally. It has advanced 164.32% on a year-to-date basis. The total traded volume so far in the day stood at 0.35 times its 30-day average. The relative strength index was at 61.05.