New order powers Reliance Energy

DALAL STREET SPIKES

Reliance Energy soared 16 per cent to Rs 1989.95 on BSE after the company said it won a project worth Rs 2,500 crore from the Delhi Metro Rail Corporation in a consortium that included Spain's CAF.

The scrip had underperformed the market in the one month till January 22, 2008, falling 16.64 per cent as against the Sensex's decline of 15.74 per cent.

The company's net profit rose 50 per cent to Rs 301.60 crore on 1.5 per cent decline in sales to Rs 1505.49 crore in Q3 December 2007 over Q3 December 2006.