Reliance Power: On Wednesday-December 4, Seci withdrew its order restricting Reliance Power from participating in renewable energy tenders, and the company’s shares opened at a 5% upper circuit of ₹41.07 on the BSE. On Tuesday, December 3, the price of Reliance Power’s shares closed 1.03% higher on the BSE at ₹39.12.

NEWS Updates On Reliance Power Share:

A week after the Delhi High Court issued a stay on the company’s debarment, the Seci reportedly reversed its ruling banning Anil Ambani-owned Reliance Power from participating in renewable energy bids, with the exception of its subsidiary Reliance NU BESS. The prohibition was introduced last month in reaction to the Anil Ambani firms’ reportedly bogus document submissions in a June Seci-released tender for a 1,000 MW/2,000 MWh standalone battery energy storage systems (BESS) project. 

In September, Reliance Power secured a tender from Seci for the BESS project through an e-reverse auction, marking its entry into the renewable energy and storage sector. An e-reverse auction is an online auction in which suppliers compete to win a buyer’s business by submitting bids that gradually decrease in price. 

Seci is a key authority in India’s renewable energy space, acting as a central intermediary between private power producers and state power distribution companies. The tender process is cancelled – Reliance Power entered the renewable energy and storage market in September after winning a bid from Seci in an e-reverse auction for the BESS project.

In an online auction known as an e-reverse auction, vendors compete for a buyer’s business by putting in bids that progressively drop in price. Serving as a crucial connection for state power distribution firms and private power providers, Seci is a key authority in India’s renewable energy sector.

Reliance Power share price trend:

As of the December 3 close, Reliance Power’s stock had increased by as much as 68%, marking a healthy gain for the year. Over the same time frame, the equity benchmark Sensex has increased by 12%.

On March 14, the stock fell to a 52-week low of ₹19.37, and on October 4, it reached a 52-week high of ₹54.25. After a sharp increase of 59% in September, it saw monthly losses of more than 12% in October and 9% in November.

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Authored by – Deepa Trivedi 

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