Anil Ambani is making headlines as Reliance Infrastructure shares have jumped by 50% in just a week! After facing a tough period, the past few days have been extremely favorable for him. 💰
The stock saw a significant leap, with a 12% rise after the board approved raising ₹3,014.4 crore through a preferential issue of 12.56 crore equity shares at ₹240 apiece. This move pushed the shares to a 52-week high of ₹320, closing at ₹316.45, and leaving the market cap at ₹12,622 crore.
🔍 Analyst Outlook:
- Support at ₹265 and resistance at ₹308, with a target of ₹350 if it crosses the resistance.
- However, with the Relative Strength Index (RSI) showing an overbought condition, investors are advised to proceed with caution ⚠️.
💡 Key Factors Driving the Surge:
- The funds raised will be channeled into business expansion and working capital improvements.
- Reliance Infrastructure has managed to slash standalone external debt from ₹3,831 crore to just ₹475 crore, a huge achievement in its financial restructuring. 💪
Despite this promising rise, the big question remains: Is this a sustainable recovery or just a temporary spike? 👀 Investors will be closely watching to see if this momentum holds up.