The formalities with the 18 procurers in 10 states for the release of money are at final stage, says report.
Reliance Power is planning to secure a total of Rs. 714 crore as bank guarantees and compensation from 18 procurers of the electricity project.
Report says that out Of this, Rs. 600 crore will be in the form of bank guarantees the procurers had offered to buy electricity.
The formalities with the 18 procurers in 10 states for the release of money are at final stage, says report.
Reliance Power Ltd is currently trading at Rs. 49.8, up by Rs. 0.4 or 0.81% from its previous closing of Rs. 49.4 on the BSE.
The scrip opened at Rs. 49.15 and has touched a high and low of Rs. 50.1 and Rs. 49.15 respectively. So far 735663(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 13857.32 crore.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 61.4 on 12-Jan-2016 and a 52 week low of Rs. 33.05 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 53.2 and Rs. 48.25 respectively.
The promoters holding in the company stood at 74.98 % while Institutions and Non-Institutions held 10.48 % and 14.21 % respectively.
The stock is currently trading below its 50 DMA.
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