Mumbai, India: February 18, 2008 – IR Summary – The announcement by Anil Ambani-led firm’s shares, which had trumbled following the mass fall of the shares, have created a good impact.

Ambani has declared issuance of bonus shares Reliance Power's plans on Monday making his share holders happy over the decision. 

After soaring to a high of Rs 429.60, the company's share gave away some gains, but was up 8.47 per cent at Rs 417.30 with volume traded at 70,84,865 against two-week average of 2,44,41,018 shares at 1 pm.

The board is scheduled to meet on Feb 24 to consider issuing bonus shares and/or other measures which it said would effectively reduce the cost of the company's shares. Reliance Power's shares, which listed on the stock exchange on Feb 11, slumped to a low of Rs 332.50 on Feb 13, way below its issue price of Rs 450.
The share, however, recovered to close at Rs 384 on Friday, helped by three-day market rally.

The International Reporter contacted those share holders who had held shares of Reliance Power and were discouraged by and large. 93 people were  interviewed in Capital Territory of Delhi and Mumbai, hey showed a change in them,  90% in favour and 3 against.

The poll shows that the share holders of Reliance Power have expressed their satisfaction on Ambani’s announcement and restored confidence in Reliance Power and felt that they did not commit any error in posing their self assurance in Anil Ambani’s issues.

The slump in Reliance Power infuriated investors, many of whom complained they were lured to invest in the company because of promises from the firm. The company, on the other hand said its shares were hit by weak market sentiment following the global rout.

However, the wave has changed in favor of Mr. Anil Ambani.