Shares of Reliance Power surged 18% to an intraday high of Rs 29.4 on the BSE on Wednesday after the company said it has taken steps to participate in the rapidly evolving artificial intelligence (AI) and new-age technology space through its subsidiaries. The rally also snapped the stock's four-session losing streak.
In a regulatory filing, the company said it has undertaken enabling measures to incorporate AI and technology-driven activities within its business framework. As part of the initiative, the relevant business objects covering artificial intelligence and technology-enabled services have been added to its subsidiaries. The company has also adopted new names for four subsidiaries to reflect the move.
