Shares of real estate firm RDB Infrastructure and Power hit a fresh 52-week high on Wednesday, January 7, 2025, even as the market remains volatile amid geopolitical tensions and sustained foreign fund outflows. The stock started the trading session in green at Rs 71 against the previous close of Rs 69.42 on the BSE. The stock continued the upward trend and touched a high of Rs 71.50, representing a gain of 2.99 per cent from the last closing. This is also the stock's fresh 52-week high. The 52-week low of the stock is Rs 35, hit on September 9, 2025. Last seen, the stock was trading at Rs 70.40 with a gain of 1.41 per cent, and the market cap of the company stood at Rs 1,394.86 crore.
The stock has been gaining for the last 15 days and has risen 53.41 per cent in the period. While the scrip has outperformed the sector by 1.53 per cent, it is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
Meanwhile, the BSE has placed the stock under the Short Term Additional Surveillance Measure Stage 1 (ST ASM-1) framework.
The stock's 14-day relative strength index (RSI) is 81.91. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
What's behind the rally
The action in the stock is being seen as the company has informed exchanges that its board of directors has approved the proposal to subscribe for 70 per cent of the equity share capital of Solar Agro-Parks Private Limited. The company is engaged in the solar energy sector.
According to the information shared with exchanges, under the deal, the company will subscribe for 7,000 equity shares with a face value of Rs 10 each, for a total cost of Rs 70,000. Following this investment, the company will have a 70 per cent stake and control in the proposed entity. According to the company, the acquisition is part of its strategy to expand and diversify its business in renewable energy.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
