Reliance Infrastructure is trading higher by 3.5% at Rs 480, extending its Friday’s 2% gain, after reporting a healthy 84% year-on-year revenue growth at Rs 7,140 crore for the fourth quarter ended March 2012 on the back of robust improvement in order execution in the EPC segment.
Meanwhile, the Anil Dhirubhai Ambani Group's infrastructure company has reported a flat consolidated net profit at Rs 411 crore due to high costs and finance charges during the recently quarter.
The board of directors of the company has recommended a dividend of Rs 7.30 per share on fully paid up equity shares of Rs 10 each.
Analyst at Nirmal Bang Securities believe the revision in power tariff, recovery of regulatory assets and completion of infrastructure projects would be key triggers for the stock’s outperformance in FY13 and retain Buy rating on the stock.
A combined 1.38 million shares have changed hands on the counter till noon deals on both the exchanges.
