Shares of Anil Ambani-led Reliance Power jumped 3.5% to their day’s high of Rs 37.74 on the BSE on Wednesday as the company got relief from the Delhi High Court granting a stay on SECI notice of debarment against the company.

On the last trading day, Reliance Power opened at ₹40.29 and closed at ₹39.10. The stock reached a high of ₹40.29 and a low of ₹38.30 during the day.

The Delhi High Court has stayed the Solar Energy Corporation of India’s (SECI) decision to bar Anil Ambani group company Reliance Power from participating in auctions for three years, the company said on Tuesday.

The exception to this ruling applies to Reliance NU BESS Limited (formerly Maharashtra Energy Generation Limited), as clarified by the court.

Shares of Anil Ambani-led Reliance Power are likely to attract attention on Wednesday after the Delhi High Court granted the company relief by staying the SECI notice of debarment against it. The court's order also applies to all of the company's subsidiaries,

The Delhi High Court has stayed SECI's three-year debarment of Reliance Power over allegations of a fake bank guarantee in a battery storage tender. SECI claimed the guarantee was issued by a non-existent bank branch.