Reliance Infrastructure Ltd's shares rose significantly on Monday after the business announced that it had won an arbitration case worth Rs 780 crore. The stock rose 6.80 percent to a day high of Rs 344.90. It was recently trading 6.21 percent higher at Rs 343. At current price, the stock has gained 67.52 percent in a month.

Bourses BSE and NSE have placed Reliance Infra's securities under the short-term ASM (Additional Surveillance Measure) framework. Exchanges classify stocks as short-term or long-term ASM frameworks to warn investors of significant share price volatility.

Anil Ambani's firm has told bourses that the Calcutta High Court has maintained a Rs 780 crore arbitration verdict in its favor in a dispute with West Bengal-based Damodar Valley Corporation. The business secured a contract of Rs 3,750 crore to build a 1,200 MW thermal power plant in Purulia, West Bengal.

"This is to inform that on September 27, 2024, the Division Bench of Hon'ble High Court of Calcutta delivered its judgment in a petition filed by Damodar Valley Corporation (DVC) challenging the arbitration award under Section 34, dated September 29, 2023, amounting to approximately Rs 780 crore, including accrued interest in favor of the company concerning the Raghunathpur Thermal Power Project," it reported.

In a related event, Reliance Infra's board said that the company will consider obtaining cash from domestic or foreign markets on October 1 (Tuesday). A few experts generally stated that the stock was 'bullish' but 'overbought' on daily charts. Long-term investors should consider holding on to it.

"At present levels, the stock appeared to be trading in a range. "Investors with a long-term perspective should consider holding on," said Kranthi Bathini, Director of Equity Strategy at WealthMills Securities.

"The pattern analysis on daily timeframes shows a large increase in price action following a breakthrough from the volatility contraction pattern. This trend indicates a probable growth in smart money involvement, which reflects accumulation.

"We recommend buying the stock with a target price of Rs 410 and a stop loss of Rs 317," stated Kushal Gandhi, Technical Analyst at StoxBox.

"The Reliance Infrastructure stock price is optimistic but overbought on daily charts, with the next resistance level around Rs 373. Investors should book profits at current levels, as a daily close below Rs 322 might lead to a short-term objective of Rs 273," according to Sebi-registered research analyst AR Ramachandran.

RInfra is in the business of providing EPC services and electricity distribution in Delhi, as well as implementing, operating, and maintaining a number of projects in the defense industry and infrastructure areas such as metro, toll highways, and airports. It also completed the Mumbai Metro Line One project. As of June 2024, promoters owned 16.50 percent of the corporation.