Reliance Infra rises amid plans to seal Adani deal
Anil Ambani-led Reliance Infra is all set to complete the sale of its integrated power business to Adani Transmission for Rs18,800cr by next week, as per media reports. Following this news, the stock was up over 1%.
In December’17, the duo signed a definitive binding agreement for 100% stake sale of the integrated business of generation, transmission and distribution of power for the city. Reportedly, this plan was part of Reliance Infra’s deleveraging strategy for future growth.
Reliance Infrastructure Ltd is currently trading at Rs401.90 up by Rs5.5 or 1.39% from its previous closing of Rs396.40 on the BSE.
The scrip opened at Rs396.40 and has touched a high and low of Rs403.40 and Rs394.10 respectively. So far 5,26,213 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs10,424.92cr.
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