Dadri setback drags Reliance Power

Reliance Power ended with a loss of 3.3% at Rs 145  on the BSE.

A total of 1.55 million shares were traded on the BSE.

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(Updated at 1056 am)

Reliance Power has shed weight after the Allahabad High Court quashed Anil Ambani's Dadri land acquisition. The stock is trading at Rs 146, lower by Rs 4 or 2.7%, on the BSE. It had opened at Rs 145, and has touched a high of Rs 148 and a low of Rs 143 thus far.

Reliance Power was planning to set up the largest gas-fired power project in a single location in the world at Dadri in Uttar Pradesh.

The Allahabad High Court quashed the Uttar Pradesh government's earlier notification allowing the use of emergency powers to buy land for the Dadri power project, side-stepping a provision inviting objections from land owners.