RPower gains on achieving boiler lightup for fourth unit of Sasan UMPP

Reliance Power rose 2.16% to Rs 73.20 at 12:51 IST on BSE after the company said that boiler lightup has been achieved for its fourth 660 megawatt unit at the 3,960 megawatt Sasan Ultra Mega Power Plant.

The announcement was made during trading hours today, 9 April 2014.

Meanwhile, the S&P BSE Sensex was up 59.08 points or 0.26% at 22,402.53

On BSE, so far 7.21 lakh shares were traded in the counter as against average daily volume of 36.08 lakh shares in the past one quarter.

The stock hit a high of Rs 73.55 and a low of Rs 71.90 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 52-week low of Rs 60.10 on 4 February 2014.

The stock had outperformed the market over the past one month till 7 April 2014, gaining 7.1% compared with the Sensex's 1.93% rise. The scrip, however, underperformed the market in past one quarter, rising 3.54% as against Sensex's 7.97% rise.

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

Reliance Power (RPower) announced during trading hours today, 9 April 2014 that boiler lightup has been achieved for its fourth 660 megawatt (MW) unit at the 3,960 MW Sasan Ultra Mega Power Plant (UMPP). This is a critical milestone of the boiler commissioning activities for the unit, the company said.

The first 660 MW unit of the Sasan UMPP was commissioned in March 2013 and the second unit in January 2014. The third unit was synchronized to the grid in March 2014, reached full load and is operational. First three 660 MW units of the project comprising 50% of total capacity are already operating, fourth unit boiler lighted up and the balance two units are in advanced stages of construction, RPower said in a statement.

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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