Anil Ambani-led Reliance Infrastructure share price rises after THIS bank facility update. Do you own?

Reliance Infrastructure share price gained over 2% on Wednesday, resuming its upward momentum after a day of fall. The Anil Ambani Group stock, Reliance Infra shares rose as much as 2.78% to ₹260.60 apiece on the BSE. The ADAG has gained in nine out of the past twelve sessions.

Reliance Infrastructure on April 2 informed the stock exchanges that credit rating agency CARE Ratings has withdrawn the rating in respect of the company’s Non-convertible Debentures (NCDs) and Long-Term and Short-Term bank facilities. The rating action was due to the company’s repayment of the aforementioned bank facilities and NCDs in full.

Reliance Infra also said that there was no amount outstanding under the said facilities as on date.

“CARE Ratings Ltd. has withdrawn the rating assigned to the bank facilities and Non-Convertible Debentures of Reliance Infrastructure Limited (RIL) with immediate effect, as the company has repaid the aforementioned bank facilities and Non-Convertible Debentures in full and there is no amount outstanding under the said facility as on date,” the rating agency said in a release explaining the rationale behind the move.

Reliance Infrastructure is into developing projects through various Special Purpose Vehicles (SPVs) in sectors such as Power, Roads and Metro Rail in the Infrastructure and the Defence sector. The Anil Ambani Group company also provides Engineering, Procurement and Construction (EPC) services for developing power and road projects.

Reliance Infra Share Price History

Reliance Infra share price has rallied 21% in one month, but the small-cap stock has fallen 20% on a year-to-date (YTD) basis. In the past six months, Reliance Infra shares have declined 22%, while the stock has fallen 10% in one year.

However, in the long-term, Reliance Infrastructure stock price has delivered stellar returns to investors. The Anil Ambani-led stock has delivered multibagger returns of 2336% in the past five years.

At 2:10 PM, Reliance Infra shares were trading 1.54% higher at ₹257.45 apiece on the BSE. 

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