RPower gains after commencement of power generation at 3rd unit of Sasan UMPP

Reliance Power rose 1.39% to Rs 65.50 at 10:27 IST on BSE after the company said that the third 660 MW unit of the 3,960 MW Sasan Ultra Mega Power Project has commenced power generation.

The announcement was made during trading hours today, 24 March 2014.

Meanwhile, the S&P BSE Sensex was up 244.79 points or 1.13% at 22,000.11.

On BSE, so far 3.12 lakh shares were traded in the counter as against average daily volume of 25.82 lakh shares in the past one quarter.

The stock hit a high of Rs 66 and a low of Rs 64.90 so far during the day. The stock had hit a 52-week high of Rs 83.10 on 21 May 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 22 March 2014, advancing 2.38% compared with Sensex's 5.09% rise. The scrip had also underperformed the market in past one quarter, declining 9.59% as against Sensex's 3.2% 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 third 660 megawatts (MW) unit of the 3,960 MW Sasan Ultra Mega Power Project (UMPP) has commenced power generation thus making 1,980 MW of capacity operational at the project. Balance three units are in advanced stages of construction and will be commissioned over the next few months, RPower said in a statement.

With this unit, RPower's generation capacity has increased to 3,865 MW which includes 3,780 MW of thermal capacity and 85 MW of renewable energy based capacity.

The Sasan UMPP is the largest integrated power plant and coal mining project in the world. Coal production has already commenced from the 20 million tonnes Moher and Moher-Amlohri coal mines associated with the power project.

RPower's consolidated net profit rose 0.6% to Rs 267.22 crore on 6.2% decline in net sales to Rs 1372.61 crore in Q3 December 2013 over Q3 December 2012.

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

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