RPower inches up after board's nod for issue of NCDs

Reliance Power rose 0.98% to Rs 46.55 at 14:36 IST on BSE after the company said its board approved issue of non-convertible debentures for an aggregate amount not exceeding Rs 1000 crore.

The announcement was made during market hours today, 18 March 2016.

Meanwhile, the S&P BSE Sensex was up 127.02 points or 0.51% at 24,804.39.

On BSE, so far 5.20 lakh shares were traded in the counter as against average daily volume of 14.85 lakh shares in the past one quarter. The stock hit a high of Rs 47 and a low of Rs 46.20 so far during the day. The stock had hit a 52-week high of Rs 62.80 on 15 April 2015. The stock had hit a record low of Rs 33.05 on 25 August 2015. The stock had underperformed the market over the past one month till 17 March 2016, advancing 4.18% compared with Sensex's 5.54% rise. The scrip had also underperformed the market in past one quarter, declining 8.98% as against Sensex's 4.37% fall.

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

Reliance Power (RPower) said that its board of directors at a meeting held today, 18 March 2016, given in-principle approval for issue of non-convertible debentures for an aggregate amount not exceeding Rs 1000 crore in one or more tranches.

On consolidated basis, RPower's net profit rose 38.3% to Rs 351.81 crore on 48.1% growth in net sales to Rs 2561.76 crore in Q3 December 2015 over Q3 December 2014.

Reliance Power, a part of the Reliance Group, is India's leading private sector power generation and coal resources company.

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