RInfra drops after 2-day 7.2% rally

Meanwhile, the S&P BSE Sensex was down 83.09 points or 0.43% at 19,086.74.

On BSE, 4.25 lakh shares were traded in the counter as against average daily volume of 6.11 lakh shares in the past one quarter.

The stock hit a high of Rs 388.20 and a low of Rs 373.45 so far during the day. The stock had hit a 52-week low of Rs 315 on 28 March 2013. The stock had hit a 52-week high of Rs 579.30 on 5 July 2012.

The stock had outperformed the market over the past one month till 22 April 2013, surging 11.62% compared with the Sensex's 2.32% rise. The scrip had, however, underperformed the market in past one quarter, declining 29.18% as against Sensex's 4.06% fall.

The company has equity capital of Rs 262.99 crore. Face value per share is Rs 10.

Shares of Reliance Infrastructure (RInfra) had rallied 7.27% in two trading sessions to settle at Rs 382.70 on Monday, 22 April 2013, from a recent low of Rs 356.75 on 17 April 2013.

RInfra through its subsidiary Reliance Cement Company (RCC) on 15 April 2013 announced its foray into Amravati cement market in Maharashtra. The company had commercially launched Reliance Cement in Nagpur and Wardha districts in September last year.

Reliance Cement is currently executing two integrated projects with a total capacity of 10 million tonnes in Madhya Pradesh and Maharashtra with connected satellite grinding plants. Pegged at 5 million tonnes each, these two projects will set the foundation for upcoming projects thereon.

Reliance Infrastructure's consolidated net profit jumped 78.3% to Rs 727.94 crore on 14.2% decline in net sales to Rs 5276.91 crore in Q3 December 2012 over Q3 December 2011.

Reliance Infrastructure is India's leading utility company having presence across the value chain of power business i.e. generation, transmission, distribution, EPC and trading and the largest infrastructure company by developing projects in all high growth areas in infrastructure sector i.e. roads, highways, metro Rails, airports and speciality real estate.

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