On Wednesday, shares of Reliance Infrastructure saw a notable increase of over 2%, marking a return to their upward trajectory after a slight dip. The stock, linked to the Anil Ambani Group, surged by as much as 2.78%, reaching ₹260.60 per share on the Bombay Stock Exchange (BSE). Impressively, Reliance Infra has experienced gains in nine out of its last twelve trading sessions.

Credit Rating Update

In a recent announcement on April 2, Reliance Infrastructure notified the stock exchanges that CARE Ratings, a prominent credit rating agency, has officially withdrawn its ratings for the company’s Non-convertible Debentures (NCDs) along with both Long-Term and Short-Term bank facilities. This action was prompted by the company’s complete repayment of these facilities and NCDs.

• No outstanding amounts: Reliance Infra confirmed that there are currently no outstanding amounts related to these facilities.

"CARE Ratings Ltd. has withdrawn the rating assigned to the bank facilities and Non-Convertible Debentures of Reliance Infrastructure Limited (RIL) effective immediately, as the company has fully repaid all associated bank facilities and NCDs, with no amounts remaining," the agency clarified in its official release.

Company Overview

Reliance Infrastructure is engaged in developing various projects through Special Purpose Vehicles (SPVs) across sectors such as Power, Roads, Metro Rail, and Defence. Additionally, the company provides Engineering, Procurement, and Construction (EPC) services essential for infrastructure development.

Share Price Performance

In terms of performance, Reliance Infra’s share price has soared by 21% over the last month. However, it has seen a 20% decline year-to-date (YTD). Over the past six months, the shares have dropped 22%, and they are down 10% when viewed over the past year.

Despite the short-term fluctuations, the long-term outlook for Reliance Infrastructure remains promising. Over the last five years, the stock has delivered an astonishing 2336% return to investors, showcasing its potential for significant growth.

As of 2:10 PM, Reliance Infra shares were trading at ₹257.45, reflecting an increase of 1.54% on the BSE.

For investors keen on the infrastructure sector, Reliance Infrastructure continues to be a noteworthy entity, promising both opportunities and potential challenges in the evolving market landscape.