Shares of Reliance Power, led by Anil Ambani, have seen a sharp decline, hitting the 5% lower circuit for the fourth consecutive session. Currently priced at Rs 45.98, the stock is down 16% from its recent 52-week high of Rs 53.64, which was reached just last week.

Anil Ambani-run Reliance Group said on Wednesday it would jointly develop solar and hydro power projects in Bhutan along with the government's investment arm.

Equipped with ₹17,600 crore fundraising and a zero-debt status, Anil Ambani’s Reliance Group companies — Reliance Infrastructure Ltd and Reliance Power Ltd — are poised to execute their growth strategies,

The reasons behind the rally in the stock include its classification as being in the overbought zone. An overbought stock zone refers to a situation where a security trades at the upper end of its recent price range.

Reliance Group's strategy of raising capital through equity or equity-linked long-term bonds will offer the group companies essential growth capital for their expansion plans.

Anil Ambani’s Reliance Group said it’s partnered with Bhutan’s Druk Holding and Investments Ltd. to develop solar and hydro energy plants in the South Asian nation.

The board’s decision allows Reliance Power to issue FCCBs with a 10-year tenure at an ultra-low annual interest rate of 5 percent. These bonds will be unsecured and convertible into around 82.30 crore equity shares at a conversion price of Rs 51 per share, including a Rs 41 premium.

Reliance Power shares hit a 5 percent lower circuit amid market sell-off. The company on October 3 announced a Rs 4,200 crore Foreign Currency Convertible Bonds (FCCBs) issuance.

Reliance Power recently announced that it has cleared all its debt with banks and financial institutions, achieving zero debt as of June 30. Its net worth stands at Rs 11,155 crore on a consolidated basis.

Who are these two men who helped Anil Ambani to to turn debt-strapped Reliance Power Into Rs 205260000000 Company