Reliance Power shares tumble nearly 5% ahead of board meeting

Shares of Reliance Power fell by 4.6% ahead of its Board meeting on October 3, breaking an 8-day winning streak. The decline follows the company's recent approval to issue up to 46.2 crore equity shares and/or warrants worth Rs 1,525 crore through a preferential allotment. Funds will be used for business expansion and debt reduction.