Reliance Power gains on signing partnership agreement with JERA

03 Sep 2019

Reliance Power is currently trading at Rs. 3.46, up by 0.22 points or 6.79% from its previous closing of Rs. 3.24 on the BSE.

The scrip opened at Rs. 3.29 and has touched a high and low of Rs. 3.49 and Rs. 3.29 respectively. So far 1631177 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 39.25 on 03-Sep-2018 and a 52 week low of Rs. 2.70 on 23-Aug-2019.

Last one week high and low of the scrip stood at Rs. 3.49 and Rs. 2.91 respectively. The current market cap of the company is Rs. 970.57 crore.

The promoters holding in the company stood at 45.16%, while Institutions and Non-Institutions held 11.41% and 43.42% respectively.

Reliance Power has signed a partnership agreement with JERA, one of the largest power utilities of Japan, for jointly setting up 750 MW gas based combined cycle power project (Phase-1) at Meghnaghat, Bangladesh. Reliance Power will hold 51% stake, while JERA will hold 49% stake in the joint venture company.

Reliance Power, a part of the Reliance Group, is India’s leading private sector power generation and coal resources company. The company has the largest portfolio of power projects in the private sector, based on coal, gas, hydro and renewable energy.

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