Reliance Power shares up by 10% today: What's the reason?

Reliance Power shares up by 10% today: What's the reason?

Reliance Power's share price skyrocketed by over 10% to ₹27.45 apiece on the Bombay Stock Exchange (BSE) today.

The surge comes after the company announced its plans to enter the artificial intelligence (AI) and new-age technology sectors through its subsidiaries.

The move has ended a four-day losing streak for the stock.

Four subsidiaries rebranded to reflect AI focus

As part of its AI push, Reliance Power has rebranded four of its subsidiaries.

The new names are Reliance AI Green Power Private Limited, Reliance AI Power Private Limited, Reliance AI Data Control Private Limited, and Reliance AI Data C Private Limited.

This strategic move is aimed at reflecting the company's commitment to embracing advanced technologies in its operations.