Jackpot For Anil Ambani: Big Project Deal In Bhutan: Increased Stock
Internet Desk/Hyderabad, May 19 (Maxim News): Anil Ambani is a name that is often heard in business news these days. After almost disappearing after the collapse of 2008, this Ambani brother is successfully continuing his second innings journey. Since the time when his sons have been taking care of the business responsibilities, the businessman has been successfully bringing his business back from the debt trap. Currently, the fact that these companies are turning into profits from huge losses is making investors happy.
Anil Ambani’s Reliance Power has signed a term sheet with Bhutan’s Green Digital Private Limited for a long-term power purchase agreement. Green Digital Private limited actually operates under the investment arm of the Bhutanese government, Druk Holding & Investments Limited. Through this, it has been revealed that Anil Ambani’s company is building the largest solar power project in Bhutan. ReliancePower shares gained almost 4 percent after this news came out.
According to the current deal between the two companies, the project will be operated through a 50:50 joint venture. Its capacity is expected to be 500 MW. It is reported that Rs. 2,000 crore will be spent on this project, which is being built under the build-own-operate (BDo) model, If this happens, it will be the largest foreign private sector direct investment in the solar energy sector of Bhutan, the government has said.
As for Reliance Power shares, they are trading at Rs. 45.96 per share on the NSE at 1.17 pm intraday. The stock’s 52 week high is at Rs. 53.61, while its 52 week low is Rs. 23.30. The company’s current market value is Rs. 19,000 crore. The shares of this company, which lost almost all of their value in the fall of Anil Ambani, are currently recovering and showering money on investors who had bet on them. In the past year, this stock has provided investors with returns of up to 80 percent. (Maxim News)
Next Story:
Vehicle Registration Now At Showrooms, Says Ponnam
![Vehicle Registration Now At Showrooms, Says Ponnam]()
Vehicle registration will now be completed at showrooms in Telangana, as Minister Ponnam Prabhakar announces fresh Transport Department reforms.
Singareni Misinformation Claims Slammed By Deputy CM Bhatti
![Singareni Misinformation Claims Slammed By Deputy CM Bhatti]()
Deputy CM Bhatti Vikramarka condemns Singareni misinformation, defends SCCL autonomy, and rejects allegations linked to tenders and site visit rules.
T-Hub Startup Center To Continue, CM Revanth Directs CCS
![T-Hub Startup Center To Continue, CM Revanth Directs CCS]()
T-Hub startup center will remain exclusive for startups, as CM Revanth Reddy orders officials to stop plans to shift government offices into T-Hub.
Rozgar Mela Sees PM Modi Issue 61,000 Job Letters
![Rozgar Mela Sees PM Modi Issue 61,000 Job Letters]()
Rozgar Mela sees Prime Minister Narendra Modi issue job appointment letters to 61,000 candidates across 45 centres through a nationwide virtual programme.
Reduce Tariffs: US Hints At Halving Duties On India
![Reduce Tariffs: US Hints At Halving Duties On India]()
Reduce tariffs signal from the US as officials hint at halving duties on India amid final stage talks on an India US trade deal.
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page, Twitter, and Instagram. For all the latest Hyderabad News updates
