Reliance Power is currently trading at Rs. 92.50, up by 1.65 points or 1.82% from its previous closing of Rs. 90.85 on the BSE.
The scrip opened at Rs. 93.00 and has touched a high and low of Rs. 93.60 and Rs. 91.50 respectively. So far 2,63,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 113.20 on 11-Jun-2014 and a 52 week low of Rs. 60.10 on 04-Feb-2014.
Last one week high and low of the scrip stood at Rs. 98.50 and Rs. 89.25 respectively. The current market cap of the company is Rs. 25,933.00 crore.
The promoters holding in the company stood at 74.98% while Institutions and Non-Institutions held 12.04% and 12.96% respectively.
Reliance Power’s 100% subsidiary - Reliance CleanGen (RCL) has inked an exclusive Memorandum of Understanding (MOU) with Jaiprakash Power Ventures (JPVL), a subsidiary of Jaiprakash Associates (JAL), for 100% acquisition of the entire hydroelectric power portfolio of JPVL by RCL. The completion of the proposed transaction would make Reliance Power the largest provider of hydroelectric power in the private sector in India. SBI Capital Markets was acting as advisors for the proposed transaction.
JRVL’s hydroelectric power portfolio has an aggregate capacity of nearly 1,800 MW, fully in operation, the largest in the private sector in India, and with an asset base of over Rs 10,000 crore. The portfolio comprises of the 3 plants, with an asset life of over 50 years, each using run-of-the-river technology to convert natural water flow to electricity, eliminating the need for a large reservoir. JAL intends to utilize the entire proceeds of the proposed transaction to reduce its outstanding debt, and thereby deleverage its consolidated Balance Sheet.
In addition to the assets contemplated to be acquired under the proposed transaction, Reliance Power has hydroelectric power projects aggregating over 5,000 MW under development, of which 4,200 MW are located in Arunachal Pradesh, 700 MW in Himachal Pradesh and 400 MW in Uttarakhand.
| Company Name | CMP |
|---|---|
| NTPC | 355.95 |
| Tata Power | 415.85 |
| Power Grid Corp | 302.45 |
| Adani Power | 613.10 |
| Torrent Power | 1312.45 |
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