Tuesday, October 01, 2019

Stock Market Today- Reliance Power zooms on planning capital expenditure of Rs 4,000 crore to install FGD units

Reliance Power is currently trading at Rs. 2.47, up by 0.27 points or 12.27% from its previous closing of Rs. 2.20 on the BSE.


The scrip opened at Rs. 2.26 and has touched a high and low of Rs. 2.58 and Rs. 2.22 respectively. So far 2020081 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 32.65 on 19-Nov-2018 and a 52 week low of Rs. 2.14 on 30-Sep-2019.

Last one week high and low of the scrip stood at Rs. 2.80 and Rs. 2.14 respectively. The current market cap of the company is Rs. 704.09 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 planned a capital expenditure of Rs 4,000 crore to install flue-gas desulfurization (FGD) units across its coal-based power plants. As a part of the company’s strategy to achieve clean green power, the company will focus on renewable energy projects like solar and wind, apart from looking at opportunities in waste to power generation in terms of biomass and biofuels.

This initiative is to meet the twin objectives of the development of sustainable, cleaner and greener power generation portfolios and capital-light assets with shorter development cycles and quicker generation of reverse cash flows.

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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