Reliance Infrastructure's remarkable stock rally
Reliance Infrastructure's stock has shot up 101% over the past year, thanks to slashing its debt and finally getting a credit rating upgrade.
Now trading near ₹400, analysts think it could reach ₹500 if things keep going well.
Investors are also eyeing a big board meeting about raising new funds.
Turnaround in last quarter
After years of struggle, Reliance Infra posted a solid ₹4,387 crore profit last quarter and cut bank debt by ₹3,300 crore.
This turnaround ended six years of default, with its credit rating moving up from 'junk' to 'stable.'
The company is back on track.
Stock could hit ₹500
The stock looks strong technically and just scored wins off the trading floor too—a court halted insolvency proceedings against it, and it landed a massive ₹5,000 crore defense contract.
If shares break above ₹420, there could be more gains ahead.