RPower drops amid volatility after Q1 results

Reliance Power lost 0.62% to Rs 96.10 at 14:50 IST on BSE after consolidated net profit rose 1.66% to Rs 244 crore on 56.09% growth in operating revenue to Rs 1753 crore in Q1 June 2014 over Q1 June 2013.

The Q1 result was announced after market hours on Friday, 18 July 2014.

Meanwhile, the S&P BSE Sensex was up 133.35 points or 0.52% at 25,774.91.

On BSE, so far 12.04 lakh shares were traded in the counter as against average daily volume of 26.68 lakh shares in the past one quarter.

The stock was volatile. The stock lost as much as 1.49% at the day's low of Rs 95.25 so far during the day. The stock rose as much as 1.86% at the day's high of Rs 98.50 so far during the day. The stock had hit a 52-week high of Rs 113.20 on 11 June 2014. The stock had hit a 52-week low of Rs 60.10 on 4 February 2014.

The stock had underperformed the market over the past one month till 18 July 2014, sliding 6.16% compared with Sensex's 1.57% rise. The scrip had, however, outperformed the market in past one quarter, jumping 32.65% as against Sensex's 13.31% rise.

The large-cap company has equity capital of Rs 2805.13 crore. Face value per share is Rs 10.

Reliance Power (RPower) said that the construction work is in full swing for the remaining one unit of the Sasan ultra mega power project (UMPP) and is on track to be commissioned in the current year.

The 100 megawatts (MW) concentrated solar power (CSP) project in Dhursar, Rajasthan is in advanced stage of commissioning, RPower said. This will be the largest CSP plant to be commissioned under the government's National Solar Mission, RPower said in a statement.

Reliance Power is lndia's leading private sector power generation company.

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