Reliance Power shares rally 5% after SECI withdraws debarment notice

Reliance Power shares on Wednesday hit the 5% upper circuit limit at Rs 41.07 on BSE after the company announced that Solar Energy Corporation of India Limited (SECI) has withdrawn its debarment notice with immediate effect.

After this, Reliance Power and its subsidiaries, Reliance NU BESS Limited (formerly known as Maharashtra Energy Generation Limited), are eligible to participate in all tenders issued by SECI, the company said in a press release.

On November 6, SECI debarred Reliance Power Limited and Reliance NU BESS Limited from participating in all future tenders issued by SECI for three years from the date the debarment notice was issued.


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The notice was withdrawn after legal proceedings. This withdrawal is without SECI’s right to take all actions per the law.

On Tuesday, Reliance Power's shares closed at Rs 39.12, up 1.03% on the BSE, while the benchmark Sensex rose 0.74%. Its shares have surged 63% in 2024 to date and 134% over the past two years, with the company currently holding a market capitalization of Rs 15,714 crore.

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