RPower drops on profit booking

The company made the announcement during trading hours today, 4 April 2013.

Meanwhile, the S&P BSE Sensex was down 203.43 points or 1.08% at 18,598.21.

On BSE, 16.80 lakh shares were traded in the counter as against average daily volume of 14.96 lakh shares in the past one quarter.

The stock hit a high of Rs 66.80 and a low of Rs 63.95 so far during the day. The stock had hit a record low of Rs 58.55 on 28 March 2013. The stock had hit a 52-week high of Rs 123.70 on 4 April 2012.

The stock had underperformed the market over the past one month till 3 April 2013, declining 9.02% compared with the Sensex's 0.62% fall. The scrip had also underperformed the market in past one quarter, sliding 30.97% as against Sensex's 4.87% fall.

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

Shares of Reliance Power (RPower) had rallied 11.74% in four trading sessions to settle at Rs 66.10 on Wednesday, 3 April 2013, from a recent low of Rs 59.15 on 26 March 2013.

RPower during trading hours today, 4 April 2013 announced that the first 660 megawatts (MW) unit at the Sasan Ultra Mega Power Project has been successfully commissioned on 30 March 2013. This is also the first integrated coal mine and super-critical power plant to be commissioned in India, and the largest integrated power plant and coal mine project in the world.

RPower earlier announced that the coal production has commenced from the Moher and Moher-Amlohri coal mines. The Chhatrasal coal block has also received forest clearance and is under development, RPower said in a statement.

J P Chalasani, CEO, RPower said, "The successful commissioning of the first unit in record time is a clear demonstration of the execution capabilities of Reliance - the ability to build large power and coal mine projects ahead of schedule".

The Sasan Ultra Mega Power Plant is the largest integrated power plant and coal mining project in the world with an estimated investment of over Rs 23000 crore. The electricity generated from the project will be sold to 14 distribution companies across seven states benefiting an estimated 35 crore people.

Reliance Power's consolidated net profit rose 30.3% to Rs 265.68 crore on 220.1% growth in net sales to Rs 1463.84 crore in Q3 December 2012 over Q3 December 2011.

Reliance Power, a part Reliance Group, is India's leading private sector power generation company. The company has the largest portfolio of power projects in the private sector based on coal, gas, hydro and renewable energy, with an operating capacity of 2,500 MW. The company also has the largest captive coal reserves in the private sector, estimated at two billion tonnes. Besides, the company is developing coal mines in Indonesia and coal bed methane blocks in India.

Powered by Capital Market - Live News