RPower gains after achieving boiler light up for third unit of Sasan UMPP

Reliance Power rose 1.05% to Rs 67.25 at 15:07 IST on BSE after the company said that boiler light up has been achieved for its third 660 MW unit at the 3,960 MW Sasan Ultra Mega Power Plant.

The company made the announcement during trading hours today, 13 January 2014.

Meanwhile, the S&P BSE Sensex was up 298.16 points or 1.44% at 21,056.65.

On BSE, so far 10 lakh shares were traded in the counter as against average daily volume of 17.55 lakh shares in the past one quarter.

The stock was volatile. The stock rose as much as 1.87% at the day's high of Rs 67.80 so far during the day. The stock lost as much as 0.22% at the day's low of Rs 66.40 so far during the day. The stock had hit a 52-week high of Rs 98.50 on 22 January 2013. The stock had hit a record low of Rs 58.55 on 28 March 2013.

The stock had underperformed the market over the past one month till 10 January 2014, sliding 9.39% compared with the Sensex's 2.34% fall. The scrip had also underperformed the market in past one quarter, declining 7.7% as against Sensex's 2.4% rise.

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

Reliance Power (RPower) said that the achievement of boiler light up for its third 660 megawatts (MW) unit at the 3,960 MW Sasan Ultra Mega Power Plant (UMPP) is a critical milestone of the boiler commissioning activities for the unit.

The first 660 MW unit of the Sasan UMPP had been commissioned in March 2013 while the second unit was synchronized to the grid in December 2013, reached full load and is operational, RPower said.

The Sasan UMPP is the world's largest integrated power plant and coal mining project.

RPower's consolidated net profit rose 4.3% to Rs 250.50 crore on 22.4% growth in net sales to Rs 1320.63 crore in Q2 September 2013 over Q2 September 2012.

Reliance Power, a part Reliance Group, is India's leading private sector power generation company.

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